Gold Silver Reports – Gold Rises Slightly as Soft US Data Tempers Rate Hike Views — US consumer prices rose less than expected in August as increases in gasoline and rents were offset by declines in healthcare and apparel costs, and underlying inflation pressures also appeared to be slowing.
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The CPI data came after soft US wholesale price data. The US central bank is widely expected to raise benchmark interest rates at its September meeting.
Higher rates make gold less attractive since it does not pay interest and costs to store and insure.
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