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Gold Holds Steady as Market Awaits Key US Inflation Indicator - BLOOMBERG
Gold steadied as traders waited for the latest reading of the Federal Reserve’s favored inflation gauge, which could indicate whether the US central bank will continue to tighten policy.
Bullion traded around $4,190 an ounce after gaining 1.6% the day before. The personal consumption expenditures price index is expected to show inflation quickened in August, maintaining pressure on Fed policymakers to keep raising rates. Higher borrowing costs are a headwind for gold, which does not pay interest.
