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Gold Slumps After U.S. Inflation Print Curbs Fed Rate Cut Bets
Bullion was little changed after closing at $2,352.78 an ounce in the previous session.
10 Apr 2024, 12:35 PM IST 
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The precious metal has rallied more than 18% since mid-February.
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(Bloomberg) -- Gold slipped after a key inflation report bolstered speculation the Federal Reserve will be in no rush to cut interest rates.
A measure of underlying US inflation topped forecasts in March for a third month, signaling a bumpier path to taming price pressures. The so-called core consumer price index, which excludes food and energy costs, increased 0.4% from February, according to government data out Wednesday. From a year ago, it advanced 3.8%, holding steady from the prior month.
Treasury yields and the dollar advanced after the print, sending bullion as much as 1.1% lower to $2,327.99 an ounce.
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