Gold bounced back above $1,750 an ounce on Wednesday, after inflation data out of the US soothe investor’s concerns about an early Fed tapering. US prices grew 0.5 percent from a month earlier in July, as expected while the core inflation rate, which excludes food and energy, grew 0.3 percent, the least in 4 months and less than market expectations. Meantime, the US Senate passed a $1 trillion infrastructure bill and kicked off debate on a $3.5 trillion spending blueprint. On Monday, gold fell below $1,700 for the first time in over four months after last week wrapped up with a much better than expected US jobs report.
