Gold Swings as Silver Rises Before US Inflation Data

Gold prices fluctuated; they initially rose as investors awaited U.S. inflation data, then declined later on. The price per ounce increased to $4,206 before dropping to $4,186, amid falling oil prices following the U.S. president's announcement of a ceasefire between Russia and Ukraine, along with expectations of increased Russian supplies. The market is leaning towards the possibility of a U.S. interest rate hike, with the dollar remaining stable, which affects gold's appeal as an inflation hedge.

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