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Gold Rises to 3-Week High
Gold prices rose more than 1% on Monday to their highest level in nearly three weeks. Spot gold gained 1.19% to $4,119.08 an ounce, while U.S. gold futures for December delivery climbed 1.29% to $4,127.40. The gains came as oil and the dollar fell, easing inflation concerns and the cost of holding gold. Investors are awaiting U.S. inflation data and signals from the Federal Reserve on interest rates. Gold rose about 5% last week, even though U.S. jobs data bolstered expectations of an interest-rate hike in December, with the probability reaching 79%, according to the FedWatch tool.
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