The price of the yellow metal has fallen from its high as US Dollar’s recovery driven by elevated US core PCE inflation data, putting pressure on the value of gold. The annual underlying inflation data rose at a higher pace of 2.7% from the estimates of 2.6% but decelerated from 2.8% recorded in February. Stronger-than-expected figures dampen Gold’s allure by reducing the likelihood of Federal Reserve rate cuts in the upcoming September monetary policy meeting. The monthly underlying inflation data met expectations, remaining consistent with the previous reading of 0.3%. This scenario favors bond yields and the US ... (full story)