Gold Swings as US Inflation Readings Fall Short of Forecasts
This article is for subscribers only.
The price of gold fluctuated between gains and losses after US inflation data came in lower then expected, potentially supporting the case for rate cuts by the Federal Reserve.
Bullion initially pared losses after US Producer Price Index figures fell short of economists’ expectations, with the precious metal being little changed on the day. Market attention will now turn to Consumer Price Index data due Wednesday.