After adopting a wait-and-see attitude all week, buyers returned to the gold market on Thursday, driving prices higher during a volatile trading session. The market is recovering nicely from early session weakness. Although inflation is running hotter than expected, the price action suggests investors think it’s temporary and likely won’t affect Federal Reserve policy yet. At 19:50 GMT, August Comex gold is trading $1900.50, up $5.00 or +0.26%. This is up from an intraday low of $1871.80. The U.S. consumer price index rose 5% in May on a year-over-year basis, the highest since the summer of 2008, when oil prices were ... (full story)