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Commodities

Gold Prices Surge Amid Softer Inflation Expectations

Guavy AI Editorial Team
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Gold
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Gold prices settled at ?154,506 on Wednesday, up 0.68% from Tuesday's close, as a weaker US dollar and softer expectations of a Federal Reserve rate hike buoyed the market.

The move comes after US CPI inflation eased to 3.4% year-on-year in July from 3.5% in June, marking the second consecutive month of cooling annual inflation.

However, Chicago Fed President Austan Goolsbee highlighted persistent inflation concerns, potentially limiting gold's upside.

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