BusinessPhoto: NDTV BusinessSpot Gold Hits One-Week Low on Hot US Inflation Data
Gold prices fell over 1% on Wednesday, marking a third consecutive session of losses as hotter-than-expected US inflation data increased bets on a Federal Reserve interest rate hike this month. Spot gold dropped 1.6% to $4,091.06 per ounce, its lowest since October 7. The US Consumer Price Index rose 0.6% in September, driven by surging gasoline prices and broader inflation pressures.
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