Gold Falls 1% as US Inflation Data Reinforces Fed Rate-Hike Bets
Spot gold fell 1% to $4,026.12 per ounce by 9:13 a.m. EDT as elevated US inflation data reinforced expectations of a Federal Reserve rate hike later this year.
By Noel JohnGold dropped 1% on Thursday as data showing elevated US inflation reinforced expectations of a Federal Reserve interest rate hike later this year, reducing the appeal of the non-yielding metal.Spot gold TVC:GOLD was down 1% to $4,026.12 per ounce by 9:13 a.m. EDT (1313 GMT). US gold fut…