US inflation pushes bullion back up

02.05.2024

Gold prices trimmed gains on Thursday as U.S. Treasury yields rose after economic data showed signs of persistent inflation, lowering hopes of the Federal Reserve cutting interest rates anytime soon.

Spot gold firmed 0.3% at $2,321.70 per ounce by 9:47 a.m. ET (1347 GMT) after rising as much as 0.8% earlier...