Gold Near 7-Week Peak on Strait Hope
Gold prices rose today, Thursday, reaching a seven-week high of $4,254.98 per ounce amid a weakening dollar and hopes for the reopening of the Strait of Hormuz. The outlook was further supported by a decrease in the expected US interest rate hike to 55%. Meanwhile, US gold futures contracts increased to $4,312.80. Other precious metals experienced mixed movements: silver declined by 0.5%, while platinum and palladium prices rose, reflecting a positive trend in the gold market.
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