COMEX Gold extended rebound from previous session but failed to recover $1860 levels. Gold hit a high at $1858.75 an ounce as downbeat US treasury yields, and dollar came under pressure as investors digested inflation data. The annual inflation rate in the US slowed to 8.3% in April from a 41-year high of 8.5% in March, further raising case for a rate hike by Federal Reserve. The dollar index, strengthened to a high of 104.10 following the data, just below the two-decade high of 104.19 reached on Monday and eased back thereafter although the greenback continues to stay at two-decade highs. Powered by Commodity Insights
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