finance
Gold Holds Near $4,050 an Ounce as Softer U.S. Inflation Data Cuts Near-Term Rate-Hike Odds
Softer-than-expected U.S. inflation reduced expectations for a near-term Federal Reserve rate hike and supported gold prices. Fed Chair Kevin Warsh said rate hikes remain an option to keep inflation near the 2% target amid ongoing risks from Middle East tensions and oil prices.
Jul 14, 7:28 PM·1m read1 source
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Gold traded near $4,050 per ounce after softer-than-expected U.S. inflation data reduced expectations of a near-term Federal Reserve rate hike, @FirstSquawk reported. The data supported bullion prices.
Fed Chair Kevin Warsh said rate hikes remain an option to keep inflation near the 2% target. Renewed Middle East tensions and higher oil prices continue to pose upside risks to inflation, the report stated.
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