Commodities
Warsh's Comments in Focus as Gold Bounces Back
Gold prices rebounded on Thursday after falling more than one percent in the previous session. Investors are now focused on comments from US Federal Reserve Chair Kevin Warsh at an upcoming symposium.
The spot price of gold rose 0.5% to $4,615.27 per ounce as of 0032 GMT. US gold futures also gained 0.4% to $4,669.50.
Gold tends to become less attractive when interest rates are higher, which could be a concern for investors given the current inflation data.
Annual inflation in the US remained above the Fed's 2% target for the 65th consecutive month. Markets are pricing in a 36.5% probability of a US rate hike in September and a 72.7% chance by December, according to the CME FedWatch Tool.