Gold stabilized from a wave of profits in early trading, standing above 4,300 US dollars per ounce. Investors weighed the subsequent trend of US monetary policy based on moderate US inflation data. At noon in London, the spot gold price was basically flat and remained above 4,350 US dollars per ounce. After the US inflation data showed lackluster performance, the price of gold fell from a 10-week high set on Thursday. The US consumer price index shows that the impact of the July energy price shock from the Iran conflict has subsided, easing the pressure on the Federal Reserve to implement a more aggressive monetary policy. Herb Chen, a senior analyst at Wantuo Markets, said, “After a round of strong increases, the price of gold entered a recuperation phase, and traders chose to fall back into the bag for safety. The price of gold soared to a two-month high, providing investors with an opportunity to redeem profits. Especially after the weakening of US CPI and PPI data, many favorable factors have been fully reflected in this round of rising prices.”

Gold stabilized from a wave of profits in early trading, standing above 4,300 US dollars per ounce. Investors weighed the subsequent trend of US monetary policy based on moderate US inflation data. At noon in London, the spot gold price was basically flat and remained above 4,350 US dollars per ounce. After the US inflation data showed lackluster performance, the price of gold fell from a 10-week high set on Thursday. The US consumer price index shows that the impact of the July energy price shock from the Iran conflict has subsided, easing the pressure on the Federal Reserve to implement a more aggressive monetary policy. Herb Chen, a senior analyst at Wantuo Markets, said, “After a round of strong increases, the price of gold entered a recuperation phase, and traders chose to fall back into the bag for safety. The price of gold soared to a two-month high, providing investors with an opportunity to redeem profits. Especially after the weakening of US CPI and PPI data, many favorable factors have been fully reflected in this round of rising prices.”