Gold price registers solid gains of nearly 0.90% on Friday as the US Dollar weakens across the board, following a week that featured softer inflation data, which decreased the chances for a rate hike by the Federal Reserve (Fed). The XAU/USD trades at $4,386, still below the $4,400 threshold.
XAU/USD gains as weak US data curbs September Fed hike bets
The US Dollar Index (DXY), which tracks the value of the American currency against six other currencies, is down 0.4% to 99.57, as investors trimmed Fed-hawkish bets ahead of the September meeting.
US inflation data on the producer and consumer side eased in July. The evolution of the disinflation…
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