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Gold steady as investors bet on more us stimulus-led inflation

From reuters.com

Gold prices held steady on Wednesday, underpinned by data showing a rise in consumer prices in the United States and expectations that more fiscal stimulus from a Joe Biden administration could trigger higher inflation. Spot gold was little changed at $1,854.84 an ounce by 1.44 p.m. EST (1844 GMT). U.S. gold futures settled up 0.6% at $1,854.90. Bob Haberkorn, senior market strategist at RJO Futures, said expectations for more stimulus, higher-than-expected inflation and safe-haven buying driven by the political environment in the United States were keeping gold supported. The Labor Department on Wednesday said its ... (full story)

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  • Category: Fundamental Analysis