Gold inches up on trade war fears, inflation data on tap
Gold prices edged up on Thursday, as markets tracked developments in U.S. President Donald Trump's tariff plans, which could ignite a global trade war, while investors awaited U.S. inflation data due later in the day.
FUNDAMENTALS
<div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-118197244»>* Spot gold rose 0.1% to $2,905.12 per ounce as of 0024 GMT, after prices dropped more than 1% following the release of the U.S. consumer price index in the previous session. Bullion hit a record peak of $2,942.70 on Tuesday.
* U.S. gold futures were steady at $2,929.60.
* The U.S. consumer price index increased more than expected in January, reinforcing the Federal Reserve's message that it was in no rush to resume cutting interest rates amid growing uncertainty over the economy.
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