Gold Stuck Near $1325 As Headline Inflation Rises

Gold Stuck Near $1325 As Headline Inflation Rises

Gold futures were flat Thursday morning as traders weighed mixed U.S. inflation data for a second day.

The consumer price index surged 0.4% last month to mark the biggest increase since January, the government said Thursday. Higher gas prices and housing costs drove the rise in cost of living. However, the so-called core index edged up 0.2% in August, stripping out fuel and food costs.

Elsewhere, the Bank of England sent strong signals that the interest rate hike could come sooner than had been predicted.

Gold was little changed at $1327 an ounce, having slipped 3 sessions in a row.

SOURCE

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