Gold Falls 1.4% as US Inflation Reinforces Fed Hike Bets
Spot gold was down 1.4% at $4,008.76 per ounce by 2:09 p.m. EDT, as elevated US inflation reinforced expectations of a Federal Reserve rate hike later this year.
By Noel JohnGold dropped more than 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 1.4% at $4,008.76 per ounce by 02:09 p.m. EDT (1809 GMT…