Gold holds above $4,150 as wholesale inflation jumps, Fed eyed

Gold prices remained steady above $4,150 an ounce on Thursday, buoyed by a weaker US dollar and softer Treasury yields despite renewed inflation concerns. At 9:50 AM EST, spot gold traded near $4,156 per ounce, gaining 1.63% from the previous session. December gold futures were quoted at $4,174 an ounce. Market participants noted a recovery in bullion prices even as new inflation data challenged the outlook for non-yielding assets. Analysts attributed the rebound partly to a softer dollar and a decline in Treasury yields, which can enhance gold’s appeal as a safe haven when inflationary pressures rise. Gold often attracts investors during periods of uncertainty, but higher yields usually create competition by making interest-bearing assets more attractive.

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