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FUNDAMENTALS Spot gold was up 0.3% at $4,418.79 per ounce, as of 0048 GMT. U.S. gold futures for December delivery were down 0.3% at $4,464.80. The U.S. dollar index slipped 0.3%, making greenback-priced metals more affordable for other currency holders. The U.S. producer price index data is due on Thursday, and the consumer price index data is scheduled for Friday. Gold prices fell on Sept. 4 after data showed U.S. job growth accelerated sharply in August, while the unemployment rate held steady at 4.1%. According to the CME FedWatch Tool, traders currently see a 60% chance of a rate hike at the Fed's policy meeting next week. Despite being known as an inflation hedge, elevated rates tend to reduce the appeal of non-yielding gold. Deutsche Bank now expects the European Central Bank to raise interest rates by 25 basis points in December in addition to a September hike, as persistent energy risks keep pressure on the inflation outlook. On the geopolitical front, Iran threatened to retaliate against any new U.S. attacks on its assets, warning that energy infrastructure across the Gulf, including U.S. oil and gas interests, was vulnerable. Among other metals, spot silver gained 0.3% at $66.34 per ounce, platinum rose 0.6% at $1,836.97 and palladium climbed 0.9% to $1,401.47. DATA/EVENTS (GMT) N/A China Exports, Imports YY Aug N/A China Trade Balance USD Aug (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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