Gold prices higher after U.S. wholesale inflation eases again ahead of Fed decision

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Gold prices traded higher Wednesday after data showed U.S. wholesale prices eased in May, providing another sign that inflation pressures are abating in the face of the Federal Reserve’s monetary tightening campaign.

Investors also looked ahead to the central bank’s interest-rate decision on Wednesday, which comes shortly after the gold futures settlement on Comex, and Chair Jerome Powell’s press conference slated for Wednesday afternoon.

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