Gold Holds Decline as Jump in US Inflation Lifts Rate-Hike Odds

Gold held a decline after accelerating US inflation lifted the odds of the Federal Reserve raising interest rates this year.

Bullion was trading around $4,720 an ounce, after falling 0.4% on Tuesday. The US consumer price index jumped the most since 2023 in April. After adjusting for inflation, wages fell for the first time in three years.