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Source: Common Domain

Gold settles higher as November inflation data meet expectations and the dollar takes a dip

Thursday 18:11 GMT

Gold futures settled higher on Wednesday, scoring their first gain in three sessions after data showed U.S. inflation remained flat in November and the dollar took a dip after strengthening over the last two sessions.

Gold has taken its cues from the dollar and expectations the Federal Reserve could be less aggressive in hiking interest rates next year than previously expected. The ICE U.S. Dollar Index DXY, -0.43% a gauge of the U.S. currency against major rivals, was off 0.4%, pressured by strength in the British pound as U.K. Prime Minister Theresa May faced a vote of no-confidence Wednesday.

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