Gold rises after six-month lows amid US data
Gold prices rose on Thursday after hitting their lowest level in six months, supported by short covering and investor waiting for the U.S. inflation report, which could influence interest rate expectations. U.S. gold futures declined by 0.5%, while Consumer Price Index data showed that prices increased in May at the fastest pace in three years. The market expects there to be a greater than 70% chance of a U.S. interest rate hike by the end of the year, amid geopolitical tensions in the region.
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