Gold up near $1195 on Renewed Physical Interest

Gold rose on Thursday on data showing rising U.S. inflation, and after the previous day’s 1-percent drop triggered renewed physical interest by price-sensitive Asian buyers.

Bullion investors focused on U.S. Labor Department data which showed underlying inflation pressures rose in October, even though that also bolstered expectations of a mid-2015 interest rate hike from the Federal Reserve.

The gold market also ignored other data that showed a strengthening U.S. economy, including rising existing home sales and lower weekly jobless claims.

CNBC

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