Gold gains as dollar weakens amid mixed US data
The precious metals markets experienced a significant rise, with gold prices increasing by 0.91% to reach $4,045.10 per ounce, supported by a decline in the dollar following the release of US inflation data that was lower than expected. This bolstered expectations of a slowdown in the US interest rate hikes. Silver also saw an increase of 0.40%, reaching $58.54 per ounce. Additionally, US growth data showed the economy expanded by 2.1% in the first quarter, while unemployment benefit claims fell to 215,000 applications.
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