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Gold edges up amid Fed rate pause
Gold prices rose slightly after August U.S. inflation data came in below expectations, leading to reduced expectations of a Federal Reserve interest rate hike in October. The probability of an increase dropped to 38% from 45% prior to the data release. Additionally, higher interest rates tend to reduce the attractiveness of gold, which does not generate income. However, the market is currently dealing with conflicting factors, with price expectations rising due to other reasons. Upcoming data, including the non-farm payroll report scheduled for release, are expected to be decisive in determining the direction of U.S. monetary policy.
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