Gold dips after US inflation data sparks jumbo rate hike concerns

​​​​​Markets swung wildly on Wednesday, as the euro touched parity versus the dollar for the first time in 20 years, while investors also feared larger Fed rate hikes could be on the way. The Fed is seen ramping up its battle with sky-high inflation with a supersized 100 basis points rate hike at its upcoming policy meeting on July 26-27. * Although gold is seen as an inflation hedge, higher rates hurt the appeal of bullion, which bears no interest

from Commodities-Markets-Economic Times
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