Gold prices trimmed losses on Wednesday after U.S. producer prices unexpectedly fell in June, although worries about inflation and elevated interest rates remained due to escalating tensions in the Middle East. Spot gold was broadly steady at $4,057.34 per ounce by 1:40 p.m. EDT (1740 GMT) after falling nearly 1% earlier in the session. U.S gold futures settled 0.4% lower at $4,051.80. "Gold has pared losses from earlier this morning as PPI came in lower than expected and eased some of those concerns about the Fed having multiple interest rate hikes this year," said Phillip Streible, chief market strategist at Blue ... (full story)