Gold Market Calms as US CPI Matches Expectations

The gold market showed volatility amid US inflation data that came in roughly as expected. May's Consumer Price Index climbed 0.5% following April's 0.6% gain, bringing the annual rate to 4.2%. Core CPI, which excludes food and energy, rose just 0.2% last month—cooler than the anticipated 0.3%—while yearly core inflation hit 2.9%.