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FUNDAMENTALS Spot gold gained 0.3% at $4,357.31 per ounce, as of 0052 GMT. US gold futures for December delivery were up 0.3% at $4,395.00. The benchmark US 10-year yield slipped for a second consecutive session. Bullion is traditionally viewed as a hedge against inflation and geopolitical risks, but its appeal tends to wane in a high-interest-rate environment as investors favor yield-bearing assets. The US central bank raised its policy rate by a quarter of a percentage point last week and flagged more hikes in the coming months. The Federal Reserve will likely need to hike rates further to lower inflation resulting from strong demand as well as a commodity price shock that has moved beyond oil, St. Louis Fed President Alberto Musalem said, adding that it would be better for the US central bank to act sooner than wait. On the geopolitical front, Houthi fighters pushed to seize strategic heights in Yemen on Monday to cut off the Red Sea coast from remaining areas held by Saudi-backed forces, after a report that President Donald Trump had called off US strikes on the group at the last minute. Meanwhile, Trump will attend the United Nations General Assembly this week, ahead of a meeting with Chinese President Xi Jinping on Thursday. Among other metals, spot silver rose 0.7% to $66.48 per ounce, platinum gained 0.8% to $1,811.28 and palladium added 0.7% at $1,309.78. DATA/EVENTS (GMT) 1400 EU Consumer Confid. Flash Sep (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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