(Kitco News) – The gold market is paring its earlier losses after U.S. inflation pressures cooled more than expected last month.The headline Consumer Price Index (CPI) rose by 0.3% last month after August’s 0.4% increase, the U.S. Bureau of Labor Statistics announced on Friday. The inflation data was lower than expected, as economists were looking for another 0.4% increase.The report noted that headline inflation rose by 3.0% over the last 12 months, lower than economists’ forecasts for a 3.1% reading, but above the 2.9% reported in August.
