Gold futures climbed sharply on Tuesday to settle at their highest since June. A lower-than-expected November reading of the U.S. consumer price index fed expectations of a slowdown in the Federal Reserve’s pace of interest-rate hikes. “Gold bulls are far from alone in hoping and praying for a Fed pivot in 2023,” said Adrian Ash, director of research at BullionVault. Gold for February delivery GCG23 rose $33.20, or nearly 1.9%, to settle at $1,825.50 an ounce on Comex. That’s the highest finish for the most-active contract since June 24, FactSet data show.
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