Gold Gains After Steep Drop, but Hawkish Central Bank Signals Weigh
Gold prices climbed on Wednesday, but remained anchored near the $4,000 level after a sharp selloff in the previous session following a hot US inflation print and hawkish policymakers' comments that tilted market expectations towards further and larger rate hikes. Spot gold rose 0.5% to $4,051.31 per ounce by 0916 GMT after dropping as much as 3% to $4,013.29 on Tuesday. US gold futures for December delivery gained 0.7% to $4,059 per ounce. "Gold is seeing some slight relief after its post-CPI declines," said Han Tan, chief market analyst at Bybit.
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