Gold climbs on subdued US dollar as inflation data awaited amid oil rally
GLD•Traders await PPI and CPI for Fed clues
Traders are awaiting U.S. producer price index data due on Thursday and consumer inflation figures on Friday for clues on whether the Fed will hike interest rates to contain prices pressures.
The market is pricing about a 60% chance of an interest rate hike at the central bank's policy meeting next week, according to the CME FedWatch Tool.
Other metals rise as WPIC sees platinum surplus
Among other metals, spot silver XAG= gained 3.3% to $67.91 per ounce, platinum XPT= climbed 5.1% to $1,906.20, and palladium XPD= rose 1.2% to $1,365.50.
The global platinum market will swing to a surplus for the first time since 2022 this year due to weaker investment and jewellery demand, the World Platinum Investment Council said.
Gold gains as dollar weakens ahead of U.S. inflation data
Sept. 9 (Reuters) - Gold climbed more than 1% on Wednesday as the dollar remained under pressure, while investors awaited key U.S. inflation data this week that would provide clues to the Federal Reserve's monetary policy amid an oil price rally.
Spot gold XAU= rose 1.4% to per ounce by 01:54 p.m. EDT (1744 GMT), while U.S. gold futures for December delivery gained 0.5% to settle at .
