Gold prices hovered on Wednesday near a two-week high touched in the previous session ahead of a widely expected robust U.S. inflation reading this week, although elevated U.S. Treasury yields kept bullion’s gains in check.
Spot gold was up 0.1% at $1,827.37 per ounce, as of 0423 GMT, holding near previous session’s high of $1,828.68, the highest level since Jan. 26. U.S. gold futures also edged 0.1% higher to $1,829.10.
“Expectations of higher inflation are largely driving the move, as hawkish Fed’s stance is largely priced-in,” said Soni Kumari, a commodities strategist at ANZ
KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield.
