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Gold Clings To Recent Gains After Inflation Report

Gold prices were flat Wednesday morning after a mixed report on U.S. inflation.

Inflation was tame compared to the previous month, but only becuase consumers got a break at the gas pumps.

Inflation-adjusted U.S. wages climbed 0.4% in March, and the 12-month rate of core consumer price, stripping out food and energy prices, advanced to 2.1% from 1.8%.

That's above the Federal Reserve's 2% taget, hinting the Fed will continued to raise interest rates in 2018. The uptick in core prices matched economist estimates.

Gold was up 10 cents at $1355/oz., clinging to recent gains.

Stocks were set ofr a rough open amid geopolitical tensions, lengal problems for Trump Administration and rumors that House Speaker Paul Ryan will not seek re-election.

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