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Or sign-in if you have an account.Gold has traded in a tight range as investors oscillate between inflation risks that could keep rates higher and growth concerns that could prompt easing. Photo by KRISTIANTO PURNOMO/AFP via Getty ImagesGold fell as the latest United States data showed a resurgence in inflation, reinforcing bets that the Federal Reserve will keep interest rates higher for an extended period of time.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorBullion dropped as much as one per cent Wednesday after data showed U.S. wholesale inflation accelerated in April to the fastest pace since 2022 as the conflict in the Middle East fed into higher freight transportation prices. Treasury 10-year yields rose toward the highest since July, while traders raised their bets on a hawkish Fed. That’s negative for gold as it pays no interest.The producer price index rose six per cent from a year ago, topping all estimates in a Bloomberg survey of economists. The monthly gain was also the sharpest since 2022. A core measure that excludes food and energy increased 5.2 per cent from April 2025 — the biggest advance in more than three years.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againAfter falling sharply in the early days of the Iran war, gold has traded in a tight range as investors oscillate between inflation risks that could keep rates higher and growth concerns that could prompt easing as the conflict drags on.Meanwhile, India, the world’s second-biggest gold consumer, raised import tariffs on gold and silver to about 15 per cent from six per cent. The surprise move came as the nation attempts to defend its currency and shore up foreign-exchange reserves.Silver surged to the highest in more than two months, on course for its seventh consecutive gain and the longest winning streak since December. The market has been partly supported by renewed buying in China, according to TD Securities.Top traders on the Shanghai Futures Exchange have been steady buyers of silver over the past month, senior commodity strategist Ryan McKay said in a note.Prices in China have stayed higher than overseas markets, and at times it has been profitable to import silver into the country in the last couple of weeks, pointing to solid demand. This suggests that Chinese buying, rather than fund flows, may now be helping support prices, according to McKay.Spot gold was 0.6 per cent lower at US$4,688.16 an ounce as of 11:30 a.m. in New York. Silver, which has risen 19 per cent in May, gained 2.1 per cent to US$88.24. Platinum and palladium both advanced. The Bloomberg Dollar Spot Index rose 0.1 per cent.—With assistance from Masaki Kondo, Yihui Xie and Jack Ryan. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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