Gold prices rose in early Asian trading. Analysts at ANZ Research said in a report that expectations for the Federal Reserve's interest rate hike cooled down after the US inflation data was released, as consumer prices rose only slightly in July compared to June. These analysts said that the data shows that the Federal Reserve is expected to stay on hold until the next meeting, so that the market only reflects expectations of a 40% increase in interest rates. They added: “This continues the emerging data trend, which softens expectations of monetary tightening and should provide further support for gold in the coming months. “Higher interest rate environments usually drag down interest-free assets such as gold. Spot gold rose 0.5% to $4,433.11 an ounce.

Gold prices rose in early Asian trading. Analysts at ANZ Research said in a report that expectations for the Federal Reserve's interest rate hike cooled down after the US inflation data was released, as consumer prices rose only slightly in July compared to June. These analysts said that the data shows that the Federal Reserve is expected to stay on hold until the next meeting, so that the market only reflects expectations of a 40% increase in interest rates. They added: “This continues the emerging data trend, which softens expectations of monetary tightening and should provide further support for gold in the coming months. “Higher interest rate environments usually drag down interest-free assets such as gold. Spot gold rose 0.5% to $4,433.11 an ounce.