Gold price declines as market assesses Middle East situation and awaits U.S. inflation data

```htmlGolden Ten Data reported on May 12 that gold prices fell on Tuesday as the market weighed developments in the Middle East and interest rate expectations ahead of the release of key US inflation data. Spot gold fell below $4,700 per ounce, dropping 0.74% intraday. As Iran rejected the US proposal to end the conflict and insisted on a list of demands described as "garbage" by US President Trump, hopes for a peace agreement between the US and Iran are gradually fading. Tastylive's global macro research director Ilya Spivak stated, "We have seen many central bank policy expectations shift toward a more hawkish stance, which for the Federal Reserve means all possibilities of rate cuts this year have disappeared." "We are closely monitoring the potential impact of the US CPI data and whether there is stronger-than-expected inflation momentum." Rising oil prices may push up inflation, increasing the possibility of rate hikes.```