Gold dips as focus on Fed rate decision, CPI data; China set to resume buying 

Gold prices retreated on Tuesday as investors awaited crucial U.S. inflation data and the Federal Reserve's policy update, seeking indications of potential interest rate cuts by the central bank.

As of 0800 GMT, spot gold decreased by 0.3% to $2,304.32 per ounce, while U.S. gold futures dipped 0.2% to $2,321.20.

China, renowned as the largest official sector purchaser of gold, is anticipated to resume its buying spree once prices ease off the record highs registered in May.