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Gold inches up as prospects for slower U.S. rate hikes weigh on dollar

Reuters  |  BENGALURU 

By Arpan VargheseBENGALURU (Reuters) - Gold prices edged up on Monday as the U.S. dollar fell to multi-month lows after the prospect for further interest rate hikes in the United States this year dimmed following softer U.S. economic data last week. The U.S. government reported on Friday that consumer prices were unchanged in June and retail sales declined for a second straight month. The soft inflation and domestic demand figures undermined arguments for the U.S. Federal Reserve to raise interest rates, with traders cutting back their bets on the likelihood of an increase in December.The ...

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First Published: Mon, July 17 2017. 13:59 IST