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Commodities

$4700 Gold Prices on Radar Ahead of Key Inflation Data

Guavy AI Editorial Team
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Gold
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Gold prices are on the rise, nearing their highest levels in three months. The metal is currently trading at $4,697 per troy ounce after a brief dip below $4,650.

The increase comes as investors prepare for the release of the US core Personal Consumption Expenditures (PCE) inflation data later today.

Analysts at Commerzbank note that previous episodes of trade friction have led to significant gains in gold prices, which is consistent with this latest move.

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