Sept 14 (Reuters) - Gold prices firmed on Thursday as the dollar and Treasury yields weakened after the U.S. inflation data cemented the case for a Federal Reserve rate pause next week, although bullion was not far from a near three-week lows seen in the previous session. FUNDAMENTALS * Spot gold added 0.3% to $1,912.09 per ounce by 0110 GMT, having hit its lowest level since Aug. 25 on Wednesday at $1,905.10. U.S. gold futures were up 0.1% at $1,933.70. * The U.S. dollar index and 10-year Treasury yields eased after U.S. consumer prices increased by the most in 14 months in August as the cost of gasoline surged, but the annual rise in underlying inflation was the smallest in nearly two years, suggesting a Fed rate pause next week. * Fed officials hoping for evidence of a clear decline in inflation and a slowing economy got some of each from data since their last meeting, but likely not enough of either to downplay the possible need for further rate increases later this year. * Traders now see a 96% chance of the Fed leaving rates unchanged on Wednesday, while bets of a pause in November were at 51%, according to the CME's FedWatch Tool. * The European Central Bank is set to decide on Thursday whether to raise its key interest rate to a record peak in what should be its final step in the fight against inflation, or take a break as the economy deteriorates. * SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings fell 0.3% to 882.00 tonnes on Wednesday. * Elsewhere, spot silver rose 0.3% to $22.89 per ounce, platinum gained 0.2% to $902.05 and palladium eased 0.2% to $1,257.26. DATA/EVENTS (GMT) 1215 EU ECB Refinancing, Deposit Rates Sept 1230 US Initial Jobless Clm Weekly 1230 US PPI Machine Manuf'ing Aug 1230 US Retail Sales MM Aug (Reporting by Swati Verma in Bengaluru; Editing by Sherry Jacob-Phillips)
Delayed 02:45:40 05/07/2024 BST | 5-day change | 1st Jan Change | ||
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2,897 PTS | -0.06% | +3.09% | - | ||
2,358 USD | +0.06% | +1.37% | - | ||
1,503 PTS | +0.46% | +4.13% | - | ||
1,022 USD | +0.46% | +5.33% | - | ||
30.46 USD | +0.31% | +4.60% | - | ||
1.276 USD | +0.07% | +0.96% | - | ||
1.18 EUR | +0.03% | +0.05% | - | ||
1.082 USD | +0.05% | +0.97% | - | ||
0.9246 EUR | -0.05% | -0.96% | - | ||
0.7343 USD | -0.01% | +0.57% | - | ||
0.6795 EUR | +0.00% | -0.44% | - | ||
0.6735 USD | +0.15% | +1.04% | - | ||
0.6226 EUR | +0.11% | +0.08% | - | ||
0.6119 USD | +0.11% | +0.48% | - | ||
0.012 USD | -0.00% | 0.00% | - | ||
0.0111 EUR | -0.03% | -0.89% | - | ||
- PTS | -.--% | +1.02% | - | ||
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