Gold Jumps Higher as Yields, Dollar Fall After U.S. Inflation Data

Gold prices are rising as softer U.S. inflation data weakens the dollar and lowers Treasury yields, increasing bets against further Fed rate hikes. Spot gold grew 0.6% to $1,957.70 per ounce, while U.S. gold futures went up 0.7% to $1,963.00. This comes after the U.S. CPI showed a slower-than-expected annual rise of 3.2%. The market now fully expects the Fed to keep rates steady in December. Silver also gained, with prices jumping 2.3% to 22.81 per ounce.