Gold Edges Higher After Sharp Selloff as Fed Hike Bets Weigh
Spot gold rose 0.3% after falling nearly 3% in the previous session. Stronger-than-expected US inflation data reinforced expectations of a Fed rate hike next month, limiting gains.
By Sukanya MitraGold prices edged higher on Wednesday after a nearly 3% slide in the previous session, but gains were limited as stronger-than-expected US inflation data cemented expectations of a Federal Reserve interest rate hike next month, weighing on bullion.Spot gold TVC:GOLD was up 0.3% at…