Gold Set to Snap Best Rally in Four Months After Inflation Data
- U.S. consumer prices climbed in April by the most since 2009
- High uncertainty warrants policy patience, Fed’s Brainard says
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Gold is set to snap its longest rally since January, hurt by gains in the dollar and Treasury yields after a higher-than-expected reading on U.S. inflation.
U.S. consumer prices climbed in April by the most since 2009, according to Labor Department data Wednesday. Rising yields reduce the appeal of non-interest-bearing bullion, and a stronger dollar makes bullion more expensive for investors holding other currencies.