Commodities
Gold Holds Gains as Traders Digest Data, Await Inflation Print
- Bullion poised for monthly gain after setting record recently
- Federal Reserve expected to ease policy at September meeting
Gold’s gains this year have been supported by expectations that the US central bank is poised to lower borrowing costs.
Photographer: Brendon Thorne/BloombergThis article is for subscribers only.
Gold held gains as traders assessed the latest US data while awaiting a key inflation gauge that may shed more light on the path of the Federal Reserve’s interest-rate policy.
Gross domestic product rose at a 3% annualized rate during the April-June period, up from the previous estimate of 2.8%. The economy’s main growth engine — personal spending — advanced 2.9%, versus the prior estimate of 2.3%. A separate government report out Thursday showed initial applications for unemployment benefits were little changed.