Gold recovers some losses as US core inflation cools
Spot gold prices pared earlier session losses to trade at 4,151.86 dollars per ounce after U.S. core inflation rose less than expected in May. While the softer data provided modest relief, bullion remains near a two-month low as markets weigh geopolitical tensions and the outlook for interest rates.
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Gold fell 2.6% to $4,151.86 per ounce on Wednesday as cooler-than-expected inflation data from the United States limited deeper losses. The metal hit its lowest level since March 23, paring a 3% intraday drop after U.S. core inflation missed economist forecasts. Investors are weighing cooling price pressures against escalating military tensions between the U.S. and Iran that threaten to widen regional conflict.
