Gold Falls Despite Cooler Inflation Data
Gold prices slipped on Wednesday and headed for a monthly decline as rising energy costs overshadowed support from cooler than expected US inflation data. The drop came despite lower expectations for an immediate Federal Reserve rate hike.
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Gold fell 0.7% to $4,152.86 per ounce during Wednesday afternoon trading, heading for a monthly loss as surging energy costs offset cooler inflation data from the United States.
