Gold edges up as investors await US inflation and PPI
Gold prices nudged up Thursday as investors watched US inflation numbers and wondered what the Federal Reserve might do next.
On COMEX, gold traded between $4,456.50 and $4,509.10 before was trading at $4,473.40 per ounce, a small but noticeable bump.
Meanwhile, silver slipped a bit to $65.58 per ounce after a day of ups and downs.
CPI 0.1% calms Fed fears
Gold recently climbed to its highest level in more than two months after July's Consumer Price Index (CPI) rose just 0.1%, matching expectations and calming worries about sudden Fed rate hikes.
A softer US dollar also helped boost gold prices.
Now, everyone's waiting for the US Producer Price Index (PPI) report to see what it means for inflation and future Fed decisions, so stay tuned if you're curious about where things go next!