The United States is sending new warships to the Middle East

Gold prices rose to their highest level in two months after the release of US inflation data. However, gold prices fell more than 1 percent in the global market on Thursday. This decline was mainly due to profit-taking by investors. As the inflation data was in line with expectations, the fear of the US Federal Reserve (Fed) raising interest rates next month has also reduced significantly. Spot gold prices fell 1.2 percent to $4,354.58 per ounce at 12:58 am EDT on Friday (August 13). Earlier, the price of gold had risen to $4,449.39 per ounce at the beginning of trading, which is the highest since June 5. On the other hand, the price of US gold futures market also fell 1.1 percent to $4,420.40 per ounce.