Commodities
Gold Stabilizes Amid Soft US Inflation Data
Gold prices remained stable on Thursday as softer-than-expected US inflation data offset the impact of rising Treasury yields and a stronger dollar.
The precious metal has lost over 6% in September, but Wednesday's inflation report provided some support for gold.
Nitesh Shah, commodity strategist at WisdomTree, said the latest inflation figures had helped dial down expectations for rate hikes, making gold a more attractive asset as an anti-fragile hedge.
The benchmark 10-year US Treasury yield reached its highest level in over two decades, increasing the opportunity cost of holding non-yielding assets like gold.