Gold near eight-month high with recessionary clouds building

Gold steadied in Asia after jumping to an eight-month high in the previous session amid a darkening economic outlook in the US and Europe. Federal Reserve Vice Chair Lael Brainard, considered a dove, said rates in the US will need to stay high for a period to cool inflation, while European Central Bank President Christine Lagarde vowed no let-up in efforts to return price gains to within the 2% target. In Japan, inflation hit 4% for the first time in more than four decades.