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Gold slips on US inflation
Spot gold fell 0.6% to $4,115.12 an ounce after rising more than 1% in the previous session, as investors took profits and awaited U.S. inflation data. Meanwhile, U.S. gold futures for December delivery rose 0.2% to $4,123.90. Investors are awaiting Tuesday’s consumer price index report and Friday’s producer price data for clues about the path of monetary policy. The FedWatch tool shows an 84% probability of an interest-rate hike in December, which could make non-yielding gold less attractive.
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