Gold gains as dollar softens ahead of US inflation report
Business
Gold prices nudged higher on Thursday, thanks to a softer US dollar making gold more appealing for global investors.
Spot gold rose 0.3% to $4,414.28 per ounce, while US futures slipped just a bit.
Everyone's now watching for upcoming US inflation numbers: these will help reveal what the Federal Reserve might do next with interest rates.
Fed pause likely, Iran attacks ships
Most economists think the Fed will leave rates unchanged at its September meeting, but there's still a 60% chance of a hike according to CME's FedWatch Tool.
On the geopolitical front, things are tense: Iran says it attacked ships near the Strait of Hormuz after the US sank five Iranian oil tankers, adding fuel to an ongoing conflict between both countries.