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Gold edges higher after sharp selloff, Fed hike bets weigh

Gold prices edged higher on Wednesday after a nearly 3% slide in the previous session, but gains were limited as stronger-than-expected US inflation data cemented expectations of a Federal Reserve interest rate hike next month, weighing on bullion. Spot gold was up 0.3% at $4,043.62 per ounce by 0303 GMT after falling nearly 3% to $4,017.21 on Tuesday. US gold futures for December delivery gained…

First reported by Business Recorder 1 source
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  1. Business Recorder

    Gold edges higher after sharp selloff, Fed hike bets weigh (opens Business Recorder in a new tab)

    Gold prices edged higher on Wednesday after a nearly 3% slide in the previous session, but gains were limited as stronger-than-expected US inflation data cemented expectations of a Federal Reserve interest rate hike next month, weighing on bullion. Spot gold…

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