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Gold poised for largest weekly rise since January
Gold settled today near $4,235.57 per ounce, recording a weekly gain of 4.8%, the largest increase since January. Investors are closely watching the upcoming U.S. non-farm payrolls data and energy markets. At the same time, gold futures declined slightly by 0.1% to $4,293.80 per ounce, while other precious metals like silver, platinum, and palladium saw price decreases. Gold is considered a hedging asset against inflation, but rising interest rates reduce its appeal because it does not generate income.
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