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Gold price finds little direction following in line U.S. CPI data

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(Kitco News) - Gold prices continue to struggle for direction as consumer inflation pressures rose in line with expectations, September.

Tuesday, the U.S. Labor Department said its U.S. Consumer Price Index rose 0.2% last month, after a 0.4% rise in August. The data in line with consensus forecasts.

For the year headline consumer inflation rose 1.4%, the report said that core inflation rose 1.7% for the year, unchanged from August’s annual rise.

Stripping out volatile food and energy prices, core inflation also increased 0.2% last month, following August’s rise of 0.4%. Economists were expecting to see a 0.2% rise. The report said that

The gold market is seeing little reaction to the latest inflation data. December gold futures last traded at $1,927.60 an ounce, roughly unchanged on the day.

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