Gold Loses Some Steam In Early U.S. Trading
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(Kitco News) - Gold prices are trading slightly higher and have pared earlier modest gains as the U.S. day session is just under way. Some mild profit-taking pressure is featured, but selling interest is limited by tame U.S. inflation data just released. The August producer price index came in at up just 0.2%, which was slightly below market expectations. The report falls into the camp of the U.S. monetary policy doves, who believe the Fed should not raise interest rates any time soon. December gold was last up $1.90 an ounce at $1,334.60.