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Gold dips before U.S. inflation data
Gold prices retreated from their seven-week high as the release of U.S. inflation data approached, which will clarify the future path of interest rates. Spot gold fell by 0.5% to $4,322.28 per ounce after rising last week, supported by weak U.S. employment data. The market is awaiting the upcoming Consumer Price Index (CPI) and Producer Price Index (PPI) reports, as weak results could support a potential rate cut, increasing gold's attractiveness. Additionally, other precious metals experienced slight declines.
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