Gold Gains Ahead of U.S. Inflation Report
Gold prices rose today following a decline in oil prices, with the spot gold price reaching $4,193.75 per ounce, its highest level in a week. Markets are closely watching upcoming US inflation data, which will determine the Federal Reserve's interest rate path. Conversely, oil prices fell after a surge driven by tensions in the Middle East and inflation fears, reinforcing expectations of a continued tight monetary policy and rising interest rates. This scenario could put downward pressure on gold prices and impact other precious metals as well.
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