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Gold Gains close to 1% on US Inflation Hopes
Gold prices rose by about 1% to reach a 10-week high, supported by decreased expectations that the Federal Reserve will raise interest rates next month, following data on U.S. inflation that influenced monetary policy outlooks. The spot price of gold was at $4,406.34 per ounce, while December futures increased to $4,466.70, as investors continued to await key U.S. economic data that could influence market direction. Additionally, other precious metals prices also gained: silver rose 1.2% to $65.46, platinum increased 0.6% to $1,754.10, and palladium went up 0.8% to $1,370.86.
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