Gold Bulls Cheer as Inflation Flop Foils Fed Tightening Zeal
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The Federal Reserve’s quest for U.S. inflation is proving frustrating, and that’s good news for gold bulls.
A Labor Department report Wednesday showed the cost of living rose in July at the slowest pace in three months, and a measure of prices excluding food, energy and shelter fell for the first time this year. Minutes of the Fed’s last meeting released later in the day showed officials want more confidence that inflation is moving toward their goal.