Gold prices dropped to two-week low on Tuesday influenced by geopolitical easing and investors' cautious stance ahead of US economic reports.
Investors are closely watching US GDP and PCE data to gauge Fed's monetary policy direction amidst inflation concerns.
Expectations of high interest rates amid strong US economic indicators could overshadow previous rate cut speculations, negatively impacting gold prices.
US Dollar's strength near 2022 high poses downward pressure on gold prices, highlighting the relationship between the two assets.
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