Gold Holds Steady as Inflation Data Offsets Dollar
Gold prices held steady as softer US inflation data reduced bets on a Federal Reserve rate hike. The metal found support despite a stronger dollar and high Treasury yields.
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Gold held steady in Thursday midday trading as a stronger dollar and surging Treasury yields were countered by softer inflation figures that tempered Federal Reserve rate hike bets. Spot bullion edged 0.1% higher to $4,159.11 per ounce by late morning. The precious metal faced pressure after falling 6% in September.
