Gold rises as dollar weakens on US inflation data
Gold prices rose slightly as the dollar declined, with investors awaiting U.S. inflation data that could determine the Federal Reserve's interest rate decision, expected to be increased by 60% at the upcoming meeting. Spot gold prices increased by 0.3% to reach $4,418.79 per ounce, while the dollar index decreased by 0.3%. Additionally, the European Central Bank is expected to raise interest rates in December due to ongoing inflation risks. Gold remains a hedge against inflation, but rising interest rates reduce its attractiveness. Other precious metals saw slight gains.
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