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Gold reaches 2-month high
Gold prices reached their highest level in over two months, rising to $4,433.62 per ounce in spot trading after U.S. consumer inflation data tempered expectations of an imminent Federal Reserve interest rate hike. Additionally, December gold futures increased by 0.6% to reach $4,493. Markets are also awaiting producer price data for further signs of easing inflationary pressures.
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