(Kitco News) – The gold market is trading in positive territory above $3,640 per ounce after U.S. inflation pressures rose more than expected last month.The Consumer Price Index (CPI) rose by 0.4% last month after July’s 0.2% increase, the U.S. Bureau of Labor Statistics announced on Thursday. The inflation data was hotter than expected, as economists were looking for a 0.3% increase.The report noted that headline inflation rose by 2.9% over the last 12 months, in line with economists’ expectations, following the 2.7% reported in July.
