Gold Reaches New High Near 4500
Gold prices rose today to their highest level in more than two months. Spot transactions reached $4,432.74 per ounce, an increase of 1%. Meanwhile, US futures contracts increased by 1.7% to $4,492.60. This comes amid anticipation of American inflation reports that could influence the Federal Reserve's interest rate hike prospects. The outlook for rate increases remains weak due to soft U.S. labor market data for July, which suggests a potential slowdown in the economy without rising inflation. This scenario supports the rise in gold prices and the weakness of the dollar.
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