Key Points
July 12 (Reuters) - Gold prices rose on Wednesday after the dollar and bond yields retreated as investors awaited U.S. inflation data that could offer more cues on the Federal Reserve's rate-hike policy path...
Spot gold rose 0.4% to $1,940.53 per ounce by 0231 GMT, its highest since June 20...
"There has been some renewed confidence in gold prices lately, given the broad expectations for the upcoming U.S. CPI to reflect further moderation in pricing pressures," said Yeap Jun Rong, market strategist at IG...
While a few Fed members said on Monday the central bank was close to ending its monetary policy tightening, Fed Bank of New York President John Williams reiterated that the central bank was not done raising its short-term rate target on Tuesday...
Yet given that a 25 bps hike is largely priced in, along with the broader trend for inflation headed to the downside, "a significant beat in inflation numbers (could) drive a pronounced recalibration in rate pricing," Rong said.. Spot silver gained 0.7% to $23.26 per ounce, platinum rose 0.5% to $929.21 while palladium was up 0.2% at $1,253.61...
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