💨 Abstract

Gold prices rose on Thursday, extending gains due to increased bets for a Fed interest-rate cut in October. The U.S. consumer prices slightly increased more than expected in September, with the smallest annual increase in 3.5 years, while jobless claims also rose. These factors strengthened the notion of a rate cut, which is beneficial for gold. Investors will now focus on U.S. Producer Price Index data for further insights on rate cuts.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖