By Gina Lee

Investing.com – Gold was down on Thursday morning in Asia. Investors digest the, suggesting that although it remains high, the price has dropped to its April peak, which eases concerns over more aggressive Federal Reserve rate hikes.

By 11:12 AM ET (13:13 GMT), they were down 0.1% to $1853.58 The normal movement of the dollar is inversely with that of gold. However, Thursday’s morning saw a slight uptake in the dollar.

Although the U.S. inflation rate eased in April, it remained at a high of 40 years.

According to U.S. Bureau of Labor Statistics (USBS), April saw a 0.3% increase month-on-month, which was the weakest gain since August. March witnessed a 1.2% month over month jump in CPI. That is the highest advance since September 2005.

To cool inflation, last week’s U.S. Federal Reserve interest rate hike to 1% was the largest in 22 years. Investors are worried that the Fed’s tighter policies could lead to a recession. Ten-year US yields fell to 2.9%.

Data-wise, today’s data release by the U.S. is expected. Mary Daly, President of the San Francisco Fed will also speak that day.

Silver rose 0.1% in other precious metals. While platinum fell 0.2%, palladium dropped 0.7%.