Gold Gained Shrugging Off Earlier Pressure From Stronger Than Forecast U.S.

Gold trading range for the day is 28764-29360. Gold gained shrugging off earlier pressure from stronger-than-forecast U.S. inflation and retail sales that added to expectations for near-term U.S. interest rate rises.

Fed’s Harker said his view that the economy is ready for three rate hikes this year does not depend on any fiscal policy changes under Trump. 

Holdings in SPDR Gold Trust rose 0.32 percent to 843.54 tonnes on Wednesday. 

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