Gold slips 0.05% as U.S. core inflation rises 0.3% in August

  • Gold prices fell 0.05% in Asian trading.
  • U.S. core inflation increased 0.3% month on month in August.
  • Federal Reserve rate-decision implications were outlined by Commonwealth Bank of Australia’s Belinda Allen.

Spot gold edged 0.05% lower to $4,345.45 a troy ounce in Asian trading after U.S. core inflation rose 0.3% month on month in August, exceeding expectations. The Labor Department data may strengthen the case for the Federal Reserve to raise its benchmark rate at its meeting this week, Commonwealth Bank of Australia’s Belinda Allen said in a note. Higher interest rates typically pressure nonyielding assets such as gold because they increase the relative appeal of interest-bearing investments.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.