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Gold Stuck At $1250 Ahead Of Inflation Report

Gold futures were lower Wednesday morning amid an escalating trade war between the world's two largest economies.

China's Ministry of Commerce said in a statement that the new US tariffs are "totally unacceptable."

Beijing vowed to take countermeasures after the U.S. proposed tariffs on an extra $200 billion of Chinese goods.

Meanhile, the Bank of Canada is set to announce its latest interest rate decision. Analysts view it as coin toss between raising rates and keeping the current rate in place.

Gold was down $5.90 at $1249.50 an ounce, trimming this week's modest gains.

The U.S. producer-price index for June is due at 8:30 a.m. ET, followed by data on wholesale inventories from May at 10 a.m.

by RTTNews Staff Writer

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