Gold prices fall after US inflation data

Gold and silver prices declined as US inflation data fueled concerns over persistent price pressures 

Gold and silver prices fell on Wednesday after US inflation data raised concerns about persistent price pressures and the possibility of monetary policy remaining tight for an extended period.

Data showed that the core Personal Consumption Expenditures (PCE) price index — the Federal Reserve’s preferred inflation gauge — remained at 3.3% in July, in line with expectations but still well above the Fed’s 2% target.

Investors expect the Federal Reserve to keep interest rates unchanged at its meeting next month, before raising them at its October and December meetings, according to the CME FedWatch Tool.

August 26 settlement.