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Gold Gains With Yields, Dollar Slipping After Inflation Data

  • Cooler-than-expected data may diminish Fed tapering concerns
  • Palladium falls below $2,000 an ounce for first time in a year
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What to Watch for in U.S. CPI Data
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Gold advanced after U.S. inflation data came in lower than expected, easing concerns that the Federal Reserve will be forced to pare back its bond buying soon. Palladium extended a slide.

The consumer price index increased 0.3% from July, the smallest advance in seven months, according to a government report Tuesday. The dollar declined and Treasury yields slipped, boosting demand for non-interest-bearing bullion.