Gold bounces off one-week low but upside remains capped
Gold recovered from one-week lows near $4,350 early Wednesday, but the rebound looks fragile as Middle East tensions persist and traders eye US inflation data due this week.
Gold Market
Gold recovered from one-week lows near $4,350 early Wednesday, but the rebound looks fragile as Middle East tensions persist and traders eye US inflation data due this week.
Gold prices surpassed $4,400 per ounce after US consumer inflation softened in July, encouraging expectations that the Federal Reserve will leave interest rates unchanged at its upcoming policy meeting.
Gold moved higher to around $4,352 per troy ounce as delayed negotiations over the Strait of Hormuz and upcoming US inflation figures kept market participants on standby.