Gold prices saw gains after a six-session decline, driven by mixed inflation and job market data, leading to increased volatility in the market.
The CPI was slightly higher than expected, while rising jobless claims introduced uncertainty, causing yields and the dollar to decline, ultimately supporting gold.
With an 85% likelihood of a 25-basis-point rate hike, investors anticipate this could further bolster gold prices amidst shifting economic conditions.
Geopolitical tensions and the uncertain landscape leading up to the US presidential elections are expected to enhance demand for gold as a safe-haven asset.
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