Gold slips as hot US PPI lifts US yields and US Dollar
The post Gold slips as hot US PPI lifts US yields and US Dollar appeared on BitcoinEthereumNews.com. Gold (XAU/USD) price edges lower during Wednesday’s session following another high inflation print in the US: input prices for producers, which hit their highest level in four years. At the time of writing, the XAU/USD pair trades at $4,699, down some 0.30%. XAU/USD weakens as sticky inflation dampens Fed cut hopes The market is in a risk-off mood for two consecutive days amid spiking US inflation due to the US-Iran war. In the meantime, US President Donald Trump arrived in Beijing for the US-China summit. The chances for a peace deal are shrinking, while Trump stated that Iran would be decimated if they don’t sign a deal. Tehran’s demands include lifting sanctions, unfreezing funds, reparations for war damage, and sovereignty over the Strait of Hormuz. On Tuesday, Trump added that he doesn’t need China’s help to end the conflict. Recently, the US Producer Price Index (PPI) rose sharply