Gold Rebounds 0.6% After Nearly 3% Selloff
Spot gold rose 0.6% to $4,057 after falling nearly 3% in the previous session. Stronger-than-expected U.S. inflation data reinforced expectations of a Fed rate hike next month, limiting gains.
By Sukanya MitraGold prices ticked up 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 rose 0.6% to $4,057…