Gold Gains Ahead of U.S. Inflation Data
The price of gold rose by 1% to $4,360 per ounce as investors await the US inflation report for August, which could indicate a possibility of the Federal Reserve raising interest rates next week. Despite the increase, gold remains on track for its third consecutive weekly loss. This comes alongside expectations of a decrease in oil demand in 2026 by the International Energy Agency and global bond yields reaching their highest levels in years, with a 67% chance of an interest rate increase at the upcoming Federal Reserve meetings.
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