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Global Business / The Economic Times

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Gold holds near one-week low as hot US inflation boosts Fed hike bets

Gold prices rose 0.2% to $4,039.07 per ounce in early Asian trade on Wednesday. This increase followed a nearly 3% decline in the previous session due to US inflation data. The data indicated stronger inflation, leading to heightened expectations of a Federal Reserve interest rate hike next month. Traders now believe there is a 100% chance of an interest rate increase in December.

11 Nov 2026 7:01 am