Gold inches down as dollar firms, market eyes U.S. inflation data

Gold prices edged lower on Thursday, October 23 2025, as a firmer U.S. dollar weighed on bullion demand and investors shifted focus to the upcoming U.S. Consumer Price Index (CPI) release. Spot gold traded around $4,084.29 per ounce, while December futures climbed to $4,100.90. The dollar index gained 0.2% amid expectations the Federal Reserve may delay rate cuts if inflation remains sticky. Analysts maintain a bullish long-term view on gold amid low real rates but note short-term consolidation is likely.