Gold falls 1.1% as US inflation fuels Fed hike bets
Spot gold was down 1.1% at $4,024.10 an ounce by 11:53 a.m. EDT (1553 GMT) Thursday. The report linked the decline to elevated US inflation reinforcing expectations of a Fed 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 1.1% at $4,024.10 per ounce by 11:53 a.m. EDT (1553 GMT). US gold…