Gold Dims As Inflation Stays Sticky

India, Aug. 26 -- Prices of the yellow metal declined amidst a fresh set of PCE data from the U.S. that revealed sticky inflation, raising concerns about the Fed's likely actions to combat the price pressures.

The latest data update from the U.S. on Wednesday morning showed annual PCE Price Index steady at 3.7 percent and the core component thereof steady at 3.3 percent. The month-on-month PCE price index increased to 0.2 percent from -0.1 percent in June while the core component thereof increased to 0.2 percent from 0.1 percent in June. With the Fed's preferred inflation gauge revealing inflation above the Fed's 2-percent target, sentiment towards gold remains weak.

For comments and feedback contact: [e-mail]

Published by H...