Gold edges lower despite Fed rate cut hopes on cooling US inflation

"The current gold market is influenced by the improving U.S. inflation figures, which have increased expectations for a rate cut by the Federal Reserve. However, in the short term, profit-taking and position liquidation are the primary factors pushing prices lower. While market participants appreciate the cooling inflation, the actions in the futures market are amplifying selling pressure. Gold remains a safe-haven asset compared to others, which means that future macroeconomic indicators will be essential to observe for their impact on the market. It's crucial to consider timing for investment while also recognizing the risk of further declines."