The latest inflation report slashed the risk that the Fed could go back to hiking interest rates this year, Wall Street strategists say.

Gold prices pared gains on Wednesday after a U.S. consumer inflation report offered mixed signals about the future path of rate cuts this year, even as a drop in the U.S. dollar and Treasury yields limited bullion's losses.

Gold prices surged to a one-month peak on Thursday, nearing $2,700 per ounce, as softer U.S. inflation data fueled hopes of lower interest rates in 2025. Spot gold rose to $2,697.45 an ounce, while February gold

Britain's economic output returned to growth in November, the first month after finance minister Rachel Reeves announced big tax increases for businesses, but the expansion was smaller than expected.

The UK economy grew by a meager 0.1% in November, according to the most recent data from the Office for National Statistics (ONS). This result is below forecasts and suggests that the economy is still having difficulties.