Gold steadies above two-week low ahead of U.S. inflation

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Gold steadies above two-week low ahead of U.S. inflationGold steadied above an earlier two-week low on Thursday as the dollar softened ahead of U.S. consumer inflation data, which will be closely watched for clues about the likely pace of interest rate increases from the Federal Reserve. The U.S. currency was down 0.2 percent against a basket of currencies in early trade, having posted its biggest one-day rise in six weeks on Wednesday. Spot gold was at $1,322.90 an ounce at 1118 GMT, little changed from $1,322.85 late on Wednesday but above an earlier low of $1,318.75, its weakest since Sept. l.

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