Gold Drops 1 Percent on Fed Signals and US Inflation
Gold prices fell one percent as investors assessed Federal Reserve signals following steady interest rates. Markets now await key US inflation data for further rate clues.
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Spot Gold fell 1.1% to $4,024.22 per ounce during early trading on Thursday following signals from the Federal Reserve. The decline puts bullion on track for its second straight monthly fall. Higher interest rates increase the opportunity cost of holding non-yielding bullion, reducing its appeal to investors.
