U.S. Core CPI Falls to 2.6% YoY in June, Below Forecast; Gold Futures Rise 1.6% Overnight

XAU-0.06%
According to Guru Club citing Everbright Futures, U.S. June CPI rose 3.5% year-over-year, easing from 4.2% in May, while core CPI climbed 2.6% year-over-year overnight (July 14), falling below market expectations of 2.8% and prior reading of 2.9%. The softer inflation data reduced expectations for further Federal Reserve rate hikes, weakening the U.S. dollar and pushing gold prices higher. COMEX July gold futures closed up 1.6%, while SHFE gold rose 0.89%.
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