Gold prices declined slightly in early trading on Tuesday, which may be due to profit taking by traders after the precious metal reached an all-time high on the back of demand for gold. the precious metal reached an all-time high amid demand for safe-haven assets. safe-haven assets. The market's concerns are being driven by U.S. President Donald Trump's plans to impose duties that could boost inflation and lead to a massive global trade war.

At the same time, investors and economists expect that the Federal Reserve U.S. Federal Reserve will respond decisively and consistently to changes in inflation and labor market conditions, according to a study released by the by the Federal Reserve Bank of San Francisco. In addition, investors are awaiting the release of the report on personal consumption expenditures in the U.S. (PCE). U.S. consumption expenditures (PCE) on Friday, which is a key indicator of inflation for the Fed to gauge a possible rate cut.