Gold Prices Rise on Softer US Inflation Data
Gold prices rose on Thursday as US inflation data came in lower than expected, reducing speculation of a Federal Reserve rate hike this month.
The spot price of gold gained 0.8% to $4,187.43 per ounce by 0625 GMT, marking a positive start to the month after a more than 6% decline in September.
US inflation data released on Thursday was softer-than-expected, which tempered expectations for a rate hike this month.