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Gold futures settle near five week high rate on Wednesday

11 Aug 2022 Evaluate
Retaining above key $1800 level, Gold futures settled at five week high rate on Wednesday. The yellow metal got buoyed as the bets on Federal Reserve aggressive interest rate hike subdued following slower than expected US consumer price inflation. The CPI rose by 8.5% yearly rate in July from previous month’s 9.1% .

Gold futures for December rose by $1.4 or 0.1% to settle at $1813.70 ounce on the Comex division of the New York Mercantile. While, spot gold up by 0.1% at $1,791.60 per ounce.