Gold edged lower as traders eye Wednesday’s U.S. inflation data

July 10th, the U.S. June unadjusted CPI annual rate is expected to record 3.1% on Wednesday, the smallest increase since March 2021, mainly due to falling gasoline prices.

However, most traders still expect the Federal Reserve to raise interest rates again later this month, which could reduce the appeal of non-interest-bearing gold.

Gold prices fell in June as persistent U.S. inflationary pressures and comments from Fed policymakers fueled bets that the tightening campaign to curb inflation was not over, pushing U.S. 10-year Treasury yields back to 4 percent Above, hit the price of gold.