Gold prices rose by one percent on Wednesday following a report that indicated a easing of inflation in the United States, which boosted hopes for a reduction in interest rates this year. Investors are awaiting the latest statements from the U.S. Federal Reserve regarding monetary policy and economic forecasts. By 13:11 GMT, gold had increased by one percent to $2,338.59 per ounce. U.S. gold futures also rose by 1.2 percent to $2,335.50. The core consumer price index remained unchanged month-on-month in May, contrary to expectations of a 0.1 percent increase, while the core price index rose by 0.2 percent, defying economists' projections for a 0.3 percent increase.
Gold Prices Rise
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