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Spot gold climbs to $4,165.29
Gold prices increased in the global markets, with the spot price per ounce reaching $4,165.29, due to diminished expectations of the Federal Reserve raising interest rates following the new U.S. inflation data. Additionally, U.S. gold futures rose to $4,202.30 per ounce. Other precious metals saw slight gains, with silver advancing to $60.51, platinum reaching $1,707.56, while palladium decreased to $1,178.57. These rises reflect the market’s reaction to U.S. economic data and investor expectations regarding future monetary policies, amid declining inflation pressures and forecasts of a slowed pace of interest rate hikes in the near future.
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