Gold Edges Higher on Softer US Inflation, Fed Rate Hike Bets Dim
Gold prices rose on Thursday following a US inflation report that was softer than expected. This subdued expectations for a Federal Reserve rate hike in October, with market participants now awaiting upcoming jobs data for further indications on monetary policy. Spot gold increased by 0.5% to $4,175.19 per ounce.
Gold edged higher on Thursday after a softer-than-expected US inflation report tempered expectations for a Federal Reserve rate hike this month, with markets looking to upcoming jobs data for further policy signals. 19 per ounce by 0417 GMT.