Gold erased early losses after US inflation data showed domestic prices rising slightly faster than expected, causing real Treasury yields to decline.
The increase in the US consumer price index in May extends a months-long buildup in inflation that risks becoming more established as the economy strengthens. Real yields eased after the data due to the strong gain in inflation expectations, boosting the appeal of non-interest-bearing bullion.
The data came after the European Central Bank renewed its pledge to maintain faster emergency bond buying. Also helping …
