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Gold futures rose Friday, while concerns of inflation and a decline in the dollar in the wake of a bucket of U.S. economic data helped position the metal for a gain of about 1% for the week.
Gold futures rose Friday, while concerns of inflation and a decline in the dollar in the wake of a bucket of U.S. economic data helped position the metal for a gain of about 1% for the week.
As quoted in market news: Mark O’Byrne, director at GoldCore
The inflation figure was higher than expected and given that inflation pressures are building, this likely accounts for gold’s rise today.