Gold rises 1% on US inflation fears
Gold prices rose by approximately 1%, supported by a weakened dollar and Middle East tensions. Investors are also eagerly awaiting U.S. inflation data, which will determine the future trajectory of interest rates. The increase comes as gold continues to serve as a safe haven amid escalating regional conflicts and rising energy costs, along with continued gains in other precious metals such as silver and platinum. The inflation data, especially the Consumer Price Index, is of utmost importance to the Federal Reserve in making monetary policy decisions.
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