Spot gold fell 0.3% to $1,786.71 per ounce by 0852 GMT, after hitting its highest since July 5 at $1,807.79 on Wednesday.
Currencies across the region jumped Thursday, following their developing-nation peers in the Americas and Europe, after the US data published Wednesday led to a slump in the dollar
The Indian rupee opened higher against the dollar on Thursday as a decline in the US inflation rate boosted Asian currencies, lifting risk appetite
Data released late Wednesday showed that US CPI inflation increased by a lesser-than-expected 8.5% in July as against a rise of 9.1% in June
The latest inflation data from the US spurred a risk rally as traders reduced Federal Reserve tightening wagers
US consumer prices did not rise in July due to a sharp drop in the cost of gasoline, delivering the first notable sign of relief for Americans who have watched inflation climb over the past two years
Three month copper on the London Metal Exchange gained 1.3% to $8,089 a tonne by 1630 GMT, the highest since July 1, after earlier easing to $7,889
Traders now expect increases in the Fed's policy interest rate to top out in December at 3.25%-3.5%
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Average paychecks are rising faster than they have in decades, but not fast enough to keep up with those rising costs. As a result, some people who had retired have returned to the workforce
US consumer prices did not rise in July, due to a sharp drop in the cost of gasoline, delivering the first notable sign of relief for Americans who have watched inflation climb over the past two years
Economists polled by Reuters had forecast a 0.2% rise on the heels of a roughly 20% drop in the cost of gasoline
CLOSING BELL: Among sectors, the Nifty IT index slipped 0.9 per cent, while the Nifty Metal index advanced 1.6 per cent
Economists expect year-on-year headline inflation running at a scorching 8.7%, a small retreat from June's whopping 9.1% figure
The forecast by economists, if it proves correct, would raise hopes that inflation might have peaked and that the run of punishingly higher prices is beginning to ease slightly
Stakes are high for July US consumer prices report on Wednesday after an unexpectedly strong US jobs data last week boosted expectations of a sharp interest rate increase to tackle soaring inflation
The unexpectedly strong US jobs data on Friday have raised the stakes for the July US consumer prices report due on Wednesday, especially for the Fed's policy outlook
Spot gold rose 0.5% to $1,783.62 per ounce by 10:02 ET (1402 GMT). U.S. gold futures edged 0.5% higher to $1,799.60.
Spot gold steadied at $1,773.82 per ounce by 0900 GMT, after dropping 1% in the previous session. U.S. gold futures fell 0.1% to $1,789.40.
US employers added 528,000 jobs last month, more than all estimates, the unemployment rate fell to a five-decade low of 3.5%, and wage growth accelerated