Reported 29 days ago
Gold prices fell after a rise in core inflation in the US, which lowers the chances of a significant Federal Reserve interest rate cut. The core consumer price index increased by 0.3% in August, prompting traders to withdraw bets on a large rate cut this month. With gold trading near record highs, concerns arise as lower interest rates typically benefit the non-yielding bullion, but market dynamics indicate a cautious sentiment among traders, leading to profit-taking.
Source: YAHOO