Surprise CPI Boosts Optimism for Rate Cuts, Gold Price Breaks $2400 Approaching Historic Highs
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Gold price breaks through $2400, approaching historical highs, as the unexpected drop in the US Consumer Price Index boosts hopes of a rate cut by the Federal Reserve. Other factors include central bank buying, geopolitical tensions, and the impact of Chinese consumer purchases. Inflation slowdown and economic activity deceleration also affect the gold price. Low inflation data exacerbates the rise in precious metals, with some believing that investor interest in gold may increase
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