Gold spot prices rise to $4,165
Gold prices have risen significantly, with the spot price of an ounce reaching $4,165.29 after U.S. inflation data reduced expectations of an interest rate hike by the Federal Reserve in October. Additionally, December US gold futures closed at $4,202.30, an increase of 0.4%. This rise was driven by easing inflation pressures in the American data, prompting investors to move away from expectations of rate hikes, which in turn boosted demand for gold as a safe haven.
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