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Gold prices end modestly higher Wednesday after U.S. inflation surge shows signs of slowing

46268 gold prices end modestly higher wednesday after us inflation surge shows signs of slowing

Gold prices finished slightly higher on Wednesday, above the $1,810 level, after U.S. consumer prices showed signs of slower gains in July. December gold GCZ22, -0.29% [s:gc00] rose $1.40, or about 0.1%, settling at $1,813.70 an ounce on Comex, after the surprisingly large retreat in the consumer price-index to a 8.5% annual rate from 9.1% a month ago. The ICE US Dollar index DXY, -1.16% also retreated 1.3% Wednesday, while the 10-year Treasury yield fell to about 2.76%, two classes of “haven” assets that can weigh on demand for nonyielding gold.

Source: Marketwatch

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