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Hike bets limit gold rise
Spot gold rose 0.61% to $4,057.47 an ounce on Wednesday, after falling about 3% in the previous session, while U.S. gold futures gained 0.81% to $4,062.80. Gains remained limited as expectations of a Federal Reserve rate hike in December rose to 100%, up from 84% before U.S. inflation data came in stronger than expected. Higher interest rates reduce the appeal of non-yielding gold.
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