Gold rises to $4,615

Gold prices rose after falling more than 1 percent in the previous session, as markets awaited comments from Federal Reserve Chair Kevin Warsh this week. Spot gold climbed 0.5 percent to $4,615.27 per ounce. Prices had declined after data showed that U.S. inflation remains elevated. U.S. gold futures rose 0.4 percent to $4,669.50. Annual U.S. inflation unexpectedly held steady in July at a level far above the central bank’s 2 percent target, marking the 65th consecutive month. The halt in the downward trend, driven by the latest surge stemming from the Iran war, is likely to intensify debates within the central bank over whether to raise interest rates or keep them unchanged.