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Forex

Gold Soars to Three-Month High Ahead of US Inflation Data and Fed Chair Speech

Guavy AI Editorial Team
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USD
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Gold prices surged to their highest level in over three months on Monday, reaching $4,636.34 per ounce as investors looked ahead to U.S. inflation data and a speech by Federal Reserve Chair Kevin Warsh.

The spot price of gold increased by 0.7%, while U.S. gold futures climbed 0.3% to $4,694.80.

The rise in gold prices can be attributed to the weaker U.S. dollar, which makes greenback-priced bullion more affordable for holders of other currencies.

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