Gold Prices Soar as US Inflation Data Meets Expectations

Gold prices reached session highs after U.S. inflation data showed a 0.1% increase in the Consumer Price Index (CPI) last month, matching economists' expectations.

The annual headline inflation rate rose to 3.4%, slightly below June's 3.5%, while core CPI increased by 0.2%, also in line with forecasts.

This data suggests that inflation pressures are cooling, supporting gold's appeal as a safe haven and investor confidence in stable inflation trends.