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Gold prices posted modest gained over 0.97% on Wednesday as the latest inflation report in the United States (US) revealed that prices are cooling.
Hence, investors increased their bets that the Federal Reserve (Fed) would resume its easing cycle in September. The XAU/USD trades at $3,363.
May’s Consumer Price Index (CPI) in the US provided an opportunity for Gold buyers. The print dipped compared to April’s data, and Bullion prices spiked toward a daily peak of $3,360 – in the headline – before erasing those gains.
Uncertainty around negotiations between the US and China will most likely keep Gold prices higher. – FXStreet
