Gold Gains on U.S. Inflation Data

Gold rose by 2% to reach $4,400.06 per ounce following the release of U.S. inflation data, which heightened expectations of an interest rate hike by the Federal Reserve. The Consumer Price Index increased by 0.4% in August, while annual inflation remained steady at 3.4%. As a result, investor expectations of a rate increase rose to 85%. Meanwhile, prices of other metals also gained, with silver increasing by 2.1%, platinum by 1.5%, and palladium by 2.9%.

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