Aug. 10, 2022, 1:52 p.m. EDT

Gold prices end modestly higher Wednesday after U.S. inflation surge shows signs of slowing

Gold prices finished slightly higher on Wednesday, above the $1,810 level, after U.S. consumer prices showed signs of slower gains in July. December gold (NYM:GCZ22) [s:gc00] rose $1.40, or about 0.1%, settling at $1,813.70 an ounce on Comex, after the surprisingly large retreat in the consumer price-index to a 8.5% annual rate from 9.1% a month ago. The ICE US Dollar index (IFUS:DXY) also retreated 1.3% Wednesday, while the 10-year Treasury yield fell to about 2.76%, two classes of "haven" assets that can weigh on demand for nonyielding gold.

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