Gold declines after 7-week high
The dollar's price has declined to its lowest level in two months, as markets await U.S. inflation data expected to influence the Federal Reserve's decisions on interest rate hikes. At the same time, gold prices rose by over 2% after the release of weak inflation data, which managed to weaken the dollar and boost the appeal of the safe haven. This rebound in gold reflects investors' concerns about ongoing inflation and its impact on the U.S. economy.
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