8/11, 2:49 PM (Source: TeleTrader)
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Gold gains 1% after US inflation data

Prices of precious metals increased on Wednesday, with gold gaining over 1%, after the United States Bureau of Labor Statistics released a report stating that the July annual inflation figure came in at 5.4%.

Gold climbed 0.97% to $1,745.99 at 8:47 am ET, while silver gained 0.52% to $23.47 at the same time. Platinum concurrently soared 1.95% to $1,019.38 an ounce, while palladium increased by 0.43% to $2,658.97 a minute later.

Breaking the News / BU