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Spot gold rallied to a new all-time high above $2,550 on Sept. 12, after US inflation figures were again higher than expected and initial jobless claims rose, confirming bets that the Federal Reserve would cut interest rates next week. "The combination of ECB interest rate cuts, a small increase in initial jobless claims and PPI was enough to push gold to a new all-time high," said Ole Hansen, head of commodity strategy at Saxo Bank. After Wednesday's announcement of a pick-up in CPI for August,...

2024-09-12 21:57:29