Gold price holds steady as traders weigh Fed rate path. gold inflation markets
Gold held steady as traders weighed monetary tightening path by the US Federal Reserve after economic data pointed to elevated inflation in consumer and producer prices.
The Fed’s hawkish monetary tightening has caused the precious metal to trend lower this year as higher interest rates put pressure on non-yielding assets. Persistent outflows from gold-backed exchange-traded funds have also acted as a headwind.
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