Gold eased after stronger-than-expected consumer inflation in US cast doubts whether the U.S. central bank will cut interest rates as aggressively as expected.
Fed’s Powell's testimony last night is giving gold a significant lift, with the market taking an indication that there is going to be a rate cut of 25 basis points coming soon.
U.S. underlying consumer prices increased by the most in nearly 1-1/2 years in June amid solid gains in the costs of a range of goods and services.
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