Gold Rises on Weakening Dollar Ahead of US Inflation Data
- Fed’s Waller says he favors ‘another significant’ rate rise
- Silver heads for its biggest gain since February 2021
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Gold gained as the dollar extended its retreat from a record high ahead of US inflation data that could bear on the Federal Reserve’s monetary policy.
The metal rose as the greenback slipped for a second day, providing relief to commodities priced in the currency. Bullion has found a floor near $1,700 an ounce this month after slumping in August on the dollar’s rally.