Gold dipped a bit on Thursday, poised to touch recent peaks, eagerly anticipating further hints regarding the interest rates trajectory upon the release of the PPI and retail sales figures.

Spot gold slumped by 0.2% to $2,171.06 per ounce, while gold futures dropped 0.3% to $2,175.35 per ounce.

As the week kicked off, bullion prices hit a peak of approximately $2,200 per ounce. However, they quickly consolidated following the release of CPI figures that topped projections, spiking concerns about the prospect of high interest rates in the markets.

Solid CPI figures shifted eyes on the PPI and retail sales figures, scheduled to release during the day, both figures are quite projected to influence Fed’s decision on the interest rate trajectory.

Number of Fed policymakers cautioned that the interest rate trim will be widely affected by the inflation status for the next month, depending on the released figures, the interest rate trajectory will be determined.