Gold shows signs of a recovery
At the end of June the increase in consumer prices slowed to 3% year-on-year from 4% in the previous month, with forecasts expecting 3.2%.
At the end of June the increase in consumer prices slowed to 3% year-on-year from 4% in the previous month, with forecasts expecting 3.2%. Core inflation also fell to 4.8% after sitting at 5.3% in May and against a forecast of 5%. The sharper-than-expected drop in inflation decreases the likelihood of the Federal Reserve raising interest rates, which leads to a weaker dollar and facilitates a rise in gold's price.
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