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Gold steadies above two-week low despite U.S. inflation rise

Reuters  |  LONDON 

By Jan HarveyLONDON (Reuters) - Gold steadied above an earlier two-week low on Thursday as the dollar softened despite strong U.S. consumer inflation data, which could allow further interest rate increases from the Federal Reserve. The U.S. currency was down 0.2 percent against a basket of currencies, having posted its biggest one-day rise in six weeks on Wednesday. The dollar was weaker even though data showed U.S. consumer prices accelerated in August amid a jump in the cost of gasoline and rental accommodation, signs of firming inflation that could allow further monetary policy ...

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First Published: Thu, September 14 2017. 19:27 IST
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