Gold prices steadied on Tuesday, hovering near a record high in July, as the US producer price index (PPI) reinforced expectations that the Federal Reserve will cut interest rates in September, sending the dollar and US bond yields lower.  Data on Tuesday showed the US PPI rose less than expected in July, suggesting inflation remained benign. Traders are now looking ahead to the US consumer price index (CPI) for July, due on Wednesday, and retail sales data due on Thursday, for more clarity on the Fed's next steps.  Deutsche Bank said Wednesday's CPI data could again boost gold prices.

Gold price may keep rising

Aug 14 2024

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