Gold prices dipped on Monday amid increased rate cut expectations that drove investors towards riskier assets, despite a weaker dollar. Concurrently, copper prices also fell due to mixed economic data from China and cooling speculative activity. Reduced safe haven demand for gold followed reports of a potential ceasefire between Israel and Hamas. Spot gold dropped 0.3% to $2,321.51 an ounce, while August gold futures fell 0.2% to $2,341.55 an ounce. Traders’ shift to riskier assets was further supported by easing U.S. inflation data, heightening expectations for a Fed rate cut in September.