Gold Pares Gains as Traders Assess US Inflation, Trade Talks

Gold pared gains after a tame inflation report fueled speculation that the Federal Reserve may keep interest rates on hold for now.

Underlying US inflation rose by less than expected for a fifth month in June even as the details signaled companies are beginning to more meaningfully pass some tariff-related costs on to consumers.

Bond yields and the dollar pushed higher after the print, with traders expecting the US central bank to keep rates unchanged at its July meeting and a lower chance of more than one rate reduction by the end of this year. That sent bullion lower ...