Bengaluru — Gold rose on Thursday as the dollar remained subdued after minutes from the US Federal Reserve’s July meeting hinted at a delay in further rate increases, while palladium hit a fresh 16-year high. Spot gold was up 0.3% at $1,287.01/oz by 3.40am GMT, after gaining nearly 1% the previous day. US gold futures for December delivery rose 0.8% to $1,292.80/oz. "It’s a dollar story and a concern that the market’s been having with regards to geopolitical events," said Dominic Schnider at UBS Wealth Management in Hong Kong. The US dollar was on the defensive on Thursday after the minutes from the Fed’s last policy meeting showed policy makers were increasingly wary of recent softness in inflation and some called for halting interest-rate increases until it was clear the trend was transitory. "The market believes at the moment that there’s not much inflation and the Fed need not do much," Schnider said. "We disagree, and believe the Fed will in September come with a balance sheet ...
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