Mumbai, Feb. 13 -- COMEX gold continues to stay elevated at $2937.90 an ounce on Thursday as safe haven demand for the commodity retains. Upside in the yellow metal was driven by dollar index that stayed muted despite a higher than expected inflation reading. The US Consumer Price Index (CPI) climbed above 3% annually for the first time in six months, exceeding forecasts and December's 2.9% increase. This rise underscores the ongoing challenge the Federal Reserve faces in controlling inflation. Core CPI which excludes volatile items rose by 3.3% on year, up from 3.2%, above forecasts of 3.1%. Besides, increased demand for yellow metal by central bankers has kept demand for the metal intact. The World Gold Council (WGC) reported that central...
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