Agencies: A strengthening dollar has led to further declines in gold futures
2025-08-14 15:59:44
Gold extended its slide as traders lowered expectations for interest rate cuts for the rest of the year on stronger-than-expected U.S. inflation data. In evening trading, gold futures fell 0.6 percent while the dollar index rose 0.4 percent to $98.22 an ounce. "Today's PPI data showed an unexpected year-on-year rise in PPI to 3.3 percent in July, well above expectations of 2.5 percent," said Fawad Razaqzada, market analyst at Forex.com. "This raises concerns that the impact of tariffs on inflation is finally starting to show." Investors' attention will now turn to retail sales and consumer confidence data. However, gold also found support from safe-haven demand amid continued uncertainty surrounding U.S. trade talks and a meeting between U.S. President Donald Trump and Russian President Vladimir Putin on Friday.
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