WASHINGTON (dpa-AFX) - Gold futures continued to rise Wednesday morning, a day after official data showed U.S. inflation is picking up.
Gold is often used as a hedge against inflation.
Rising gasoline prices pushed annual inflation to a nearly two-year high in September, the Labor Department said.
Traders expect the Federal Reserve may raise interest rates in the coming months, given sustained jobs growth and the outlook for healthier inflation.
December gold was up $9 at $1271 an ounce.
the third and last presidential debate between Democratic nominee Hillary Clinton and Republican nominee Donald Trump taking place from 9 p.m.to 10:30 p.m. ET tonight at the University of Nevada, Las Vegas.
On the economic front, investors are eyeing the Commerce Department's report on housing starts and building permits along with the Federal Reserve's Beige Book for additional clues on the outlook for interest rates.
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