Gold
rose more than 1% on Wednesday after data indicated a surprising drop in
US inflation last month.
The consumer price index recorded an unexpected decline in August, indicating a
low level of inflation.
However, the data supported gold to break the narrow range within which moved
last days, reaching a week peak $ 1 124.30 per troy ounce.
Spot gold finally was traded at $ 1121 per troy ounce, while US futures for
December delivery rose 1.5% to $ 1119 per troy ounce.
According to a recent poll, slightly over half of the surveyed 80 economists
said they expect the Fed to keep interest rates near zero.
Any increase in the interest rate would have a negative impact on gold.
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