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Gold drops 1% as US PCE inflation strengthens case for December Fed rate hike

Gold (XAU/USD) extends its intraday decline on Thursday as the latest US Personal Consumption Expenditures (PCE) inflation data reinforce expectations of a Federal Reserve (Fed) rate hike in December after the US central bank held interest rates steady at its October meeting.

Gold drops 1% as US PCE inflation strengthens case for December Fed rate hike

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