Gold rallies and reaches 1-week high

By FXStreet FXStreet (Córdoba) – The yellow metal rallied to fresh 1-week highs during the American session amid broad dollar weakness on the back of soft economic data and ahead of the eagerly awaited Fed’s decision on rates.

Gold rose 1.6% and reached a high near $1123 an ounce as soft US consumer price index figures pointed to subdued inflation and raised doubts about a rate hike by the Fed. XAU/USD is currently trading at $1,122,80/oz, up 1.57% on the day.
For more information, read our latest forex news. …read more

Source:: FX Street