Gold slips below $4,400 as cooling US inflation boosts Fed hold expectations
Gold fell on Thursday after US wholesale inflation slowed more than expected in July, helped by declines in energy and food costs. The data cooled markets’ expectations for a September Federal Reserve rate increase. Bullion slid as much as 1.5% to $4,343.91 an ounce, breaking below the $4,400 level. Silver also weakened, falling 1.4% to $64.42 an ounce.