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MCX GOLD TIPS | Gold surges after China consumer prices tick up

Gold prices rose by 0.09 per cent on Wednesday as consumer prices in China nudged a bit higher than expected, bolstering required hopes.

In China, CPI rose 1.5% year-on-year, a tick higher than the 1.4 per cent seen and PPI fell 5.9%, matching expectations. The higher customer inflation will no doubt limit the room for the People’s Bank of China to again cut interest rates. The PBOC last cut the benchmark one-year deposit rate to 1.5 per cent at the end of October.

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