Gold futures ended flat on Wednesday, a day after settling at their highest since early June. “Slower inflation, higher gold prices might seem an odd headline to anyone who believes precious metals need the cost of living to rise for the bullion market to jump,” said Adrian Ash, director of research at BullionVault. However, “interest-rate expectations matter much more right now, and after testing the floor at $1,900 three weeks ago, gold has shot higher on the sudden switch from higher-for-longer to peaking-sooner-than-later.” Gold for August delivery
GCQ23,
settled at $1,980.80 an ounce on Comex, the same finish as Tuesday, which marked the highest since June 6.
