Gold Holds Advance After US Inflation Data Affirms Fed Cut Bets
- A swift Fed rate-cutting cycle would support bullion
- China’s PBOC may boost gold holdings in 2025, Goldman says
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Gold held a three-day advance after a key US inflation report reaffirmed expectations that the Federal Reserve will likely cut interest rates next week.
US consumer prices rose at a firm pace in November that was in line with expectations. The so-called core consumer price index — which excludes food and energy costs — increased 0.3% for a fourth straight month, Bureau of Labor Statistics figures showed Wednesday. From a year ago, it rose 3.3%.