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Gold prices reversed course today, with the precious metal climbing over $25, now trading around $2,635 USD.
The recovery on Thursday marked the end of a six-session losing streak as traders reacted to key U.S. economic data. The latest reports provided investors with crucial insights into the potential direction of the Federal Reserve’s policy for the remainder of the year.
Specifically, the CPI report revealed that inflation is easing, while the jobs report indicated a weakening labor market. This combination has strengthened investor confidence that the Fed is on the right track, offering much-needed support to gold prices.
The recovery on Thursday marked the end of a six-session losing streak as traders reacted to key U.S. economic data. The latest reports provided investors with crucial insights into the potential direction of the Federal Reserve’s policy for the remainder of the year.
Specifically, the CPI report revealed that inflation is easing, while the jobs report indicated a weakening labor market. This combination has strengthened investor confidence that the Fed is on the right track, offering much-needed support to gold prices.
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