Gold Prices Climb as US Inflation Data Dampens Fed Rate Hike Expectations

Gold prices rose on Thursday following softer-than-expected US inflation data. The data showed that US inflation rose less than anticipated in August, and previous month's figures were revised lower.

The Federal Reserve now faces reduced expectations of raising interest rates at its meeting this month, with markets pricing in a 38% chance, down from 45% before the data was released.

Gold futures for December delivery rose to $4,212.50, up 0.60%, while spot gold reached $4,184.05, increasing by 0.65%.