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Reuters
Gold off 8-month highs as markets brace for inflation data
Gold prices eased from an eight-month peak on Wednesday as investors positioned themselves ahead of U.S. inflation data that could hint at the Federal Reserve’s policy path with expectations mounting that slower rate hikes were on the horizon. Spot gold edged 0.1% lower to $1,874.89 per ounce by 12:19 p.m. ET (1719 GMT). Prices were trending lower on some “profit taking from the shorter term futures traders ahead of the CPI report tomorrow,” said Jim Wyckoff, senior analyst at Kitco Metals, adding that the market could continue to trade sideways ahead of the data.
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