Commodities
Gold Trims Monthly Gain on Bets for Measured Pace of Rate Cuts
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Gold prices dipped on Friday, trimming this month’s advance, as Treasury yields and the dollar pushed higher after a key US inflation gauge reinforced bets that the Federal Reserve’s pace for rate cuts will be measured.
The Fed’s preferred measure of underlying US inflation rose at a mild pace and household spending picked up in July. The so-called core personal consumption expenditures price index, which strips out volatile food and energy items, increased 0.2% from June, according to Bureau of Economic Analysis data out Friday.