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Gold Slightly Softer After U.S. March CPI Climbs 0.4%

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(Kitco News) - Gold prices are modestly weaker Wednesday after a report showing U.S. consumer prices increased by a seasonally adjusted 0.4% during March. As of 8:34 a.m. EDT, spot metal was down $2.10 to $1,301.60 an ounce.

The core index for CPI, excluding the volatile food and energy sectors, upticked by 0.1%.

Going into the report, consensus expectations compiled by news organizations had been for a rise of 0.3% or 0.4% in the headline figure. The core rate was expected to be up 0.2%.

“The indexes for shelter, medical care, new vehicles, recreation, education, and tobacco were among those that increased in March, while the indexes for apparel, used cars and trucks, and airline fares all declined,” the Labor Department said.

On an annual basis, overall CPI was up 1.9%, up from 1.5% for February. Core CPI rose 2.0%.

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