Gold Prices Soar on Weaker US Inflation Data
Gold prices rose on Thursday after US inflation data came in lower than expected, reducing speculation about a Federal Reserve rate hike this month.
The spot gold price gained 0.8% to $4,187.43 per ounce by 0625 GMT, marking the start of October with a positive note after a decline of over 6% in September.
US gold futures for December delivery firmed 0.7% to $4,217.50.