Gold rises for fifth day as US data lifts Fed rate-cut bets
U.S. inflation data came in line with forecast.
FUNDAMENTALS
<div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-116232362»> * Spot gold was up about 0.1% at $2,719.79 per ounce, as of 0035 GMT. U.S. gold futures steadied at $2,755.40.
* U.S. consumer prices increased by the most in seven months in November, but that is unlikely to discourage the Fed from cutting interest rates for a third time next week against the backdrop of a cooling labor market.
* Traders predict a 98.6% chance of a 25-basis-point cut at the Fed's Dec. 17-18 meeting, CME's FedWatch Tool showed.
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