Gold prices met two-week low today after US CPI data

Gold prices fell to a two-week low on Tuesday as the dollar rose ahead of U.S. inflation data, which could influence the Federal Reserve’s interest rate trajectory.

Gold fell 0.5% to $1,911.70 per ounce, its lowest since August 25.

The dollar rose 0.3% against its rivals ahead of U.S. CPI data, making gold more expensive for other currency holders.

The CME FedWatch tool predicts a 40% likelihood of a rate hike in November after the Fed’s expected pause next week.


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