Gold steadied near the lowest in more than nine months as the dollar edged higher in anticipation of US inflation data this week that’s set to shape the magnitude of the Federal Reserve’s next rate hike. Investors concerned about the prospect of a global economic downturn have turned in droves to the greenback, which is already up more than 2pc this month. That’s capped gold, despite support from an easing in US Treasury yields. Gold has been on a roller-coaster this year as Russia’s invasion of Ukraine spurred a rally in the haven to well above $2,000 an ounce in March, only for the momentum to fade as the growth and inflation outlook shifted. In recent weeks, investors have cut holdings in bullion-backed exchange-traded funds.
Mercuria, a global commodities trading firm headquartered in Geneva, finds its senior executives under scrutiny…
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