Comex gold prices fluctuated throughout the week and are expected to close near $1,975 per troy ounce. Despite a 1% decline in the dollar index, gold prices did not rise due to higher US short-term treasury yields. US CPI data showed a decline in headline inflation to 4% in May, and the core CPI rose by 0.4% in May. The Federal Reserve delivered a hawkish message, signaling potential rate hikes. However, gold prices rebounded on Thursday due to weak economic data and a hawkish ECB policy outcome. The coming week will focus on US housing data, manufacturing PMIs, and Fed officials' speeches.