Gold Holds Above $4,300 as Tame US Inflation Tempers Fed Rate Fears
Updated
Updated · Bloomberg · Aug 14
Gold Holds Above $4,300 as Tame US Inflation Tempers Fed Rate Fears
3 articles · Updated · Bloomberg · Aug 14
Summary
Spot bullion traded little changed above $4,350 an ounce in London after recovering from early profit-taking, holding near a 10-week high reached on Thursday.
July US consumer-price data came in subdued, suggesting energy-price shocks from the Iran war had faded and easing pressure on the Federal Reserve to turn more aggressive.
That softer inflation backdrop supported gold even as traders continued to balance the outlook for US rates against persistent Middle East tension.