**[Gold Prices Decline as Market Assesses Middle East Situation and Awaits U.S. Inflation Data]** Reported by Jinse Finance, on May 12, gold prices fell on Tuesday as the market weighed developments in the Middle East and interest rate expectations ahead of the release of key U.S. inflation data. Spot gold dropped below $4,700 per ounce, down 0.74% intraday. As Iran rejected the U.S. proposal to end the conflict and insisted on a list of demands described by U.S. President Donald Trump as "garbage," hopes for a peace agreement between the U.S. and Iran have gradually faded. Tastylive's Global Macro Research Director Ilya Spivak stated: "We have seen many central banks shift toward a more hawkish stance in their policy outlooks. For the Federal Reserve, this means all possibilities of rate cuts this year have vanished." "We are closely monitoring the potential impact of U.S. CPI data and whether it reveals stronger-than-expected inflationary momentum." Rising crude oil prices could drive inflation higher, thereby increasing the likelihood of rate hikes. (Jin10)