2024-02-14T05:39:58+00:00
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/ Gold remained close to its lowest price in two months on Wednesday, trading below the key $2,000 per ounce level, as a stronger-than-expected report on U.S. inflation prompted traders to scale back bets on deeper U.S. interest rate cuts.
Spot gold was steady at $1,992.21 an ounce by 04:29 GMT, after hitting its lowest since Dec. 13 on Tuesday.
The yellow metal fell about 1.4 percent on Tuesday, its biggest daily decline since Dec. 4.
U.S. gold futures fell 0.1 percent to $2,005.00 an ounce.
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Data on Tuesday showed the consumer price index rose 3.1 percent on an annual basis, beating expectations for a 2.9 percent increase.
The dollar index hovered near a three-month high, while 10-year Treasury yields neared a two-and-a-half-month high.
As for other precious metals, platinum was stable at $871.90 an ounce, palladium fell 0.2 percent to $862.14, and silver fell 0.2 percent to $22.04.