Gold prices downcast as dollar firms on US inflation data
Wed, Jul 14, 2021 8:12 AM

Gold prices downcast as dollar firms on US inflation data

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Gold prices dropped on Wednesday as the dollar stood strong after data showed U.S. consumer prices last month hiked by the most in 13 years, with focus now shifting to Federal Reserve Chair Jerome Powell's testimony before Congress. Spot gold was flat at $1,806.07 per ounce, as of 0057 GMT. U.S. gold futures were 0.2% lower at $1,807.20 per ounce. The dollar index held steady.

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