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Spot gold spikes above $4,438/oz as annual core CPI rises 2.5% in July
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(Kitco News) - The gold market is setting fresh session highs after the latest data showed U.S. inflation pressures cooled in line with expectations last month.The headline Consumer Price Index (CPI) rose by 0.1% last month after June’s -0.4% decrease, the U.S. Bureau of Labor Statistics announced on Wednesday. The inflation data matched expectations, as economists were looking for a 0.1% increase.
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