A technician cleans impurities from melted gold bars at Primera Gold's laboratory in Bukavu, South Kivu Province, eastern Democratic Republic of Congo, May 12, 2023.
Gold prices consolidated in a tight range on Thursday, hovering close to a near seven-month high, as investors awaited a key inflation print to gauge whether interest rate cuts in the U.S. would come sooner than expected.
Spot gold was down 0.1% at $2,041.76 per ounce by 0543 GMT, after hitting its highest since May 5 on Wednesday, and was poised for its second straight monthly gain.
U.S. gold futures for December delivery fell 0.2% to $2,042.40 per ounce.
Spot silver fell 0.2% to $24.95 per ounce.
Persons:
Bullion, Yeap Jun Rong, Jerome Powell
Organizations:
Primera Gold's, U.S, Federal, Traders
Locations:
Bukavu, South Kivu Province, Democratic Republic of Congo, U.S