Gold Gains as Traders Seek Haven Amid Persistent High Inflation
- Prices paid by U.S. consumers in September outpaced forecast
- Fed minutes show signal for mid-November or mid-December taper
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Gold rose to the highest in a month as investors sought haven amid stubbornly high inflation and the looming reduction in stimulus.
The U.S. consumer price index rose in September by more than forecast, resuming a faster pace of growth and underscoring the persistence of inflationary pressures in the economy. The yield on 10-year Treasuries fell after an initial increase following the data released Wednesday, boosting demand for non-interest bearing bullion.