Gold prices climbed higher on Thursday as investors picked up the safe-haven asset amid concerns about a global economic slowdown and hopes that the Federal Reserve will hold rates unchanged for now.
A subdued dollar also contributed to the previous metal's advance. With inflation data from the U.S. and UK coming in cooler-than-expected, there are expectations that both the Fed and Bank of England will not hike rates and might even reduce rates by the middle of next year.
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