Gold Holds Near Record High as Weak U.S. Data Sparks Higher Valuable Asset Buying
Gold is trading slightly below last week's record high as unexpectedly weak economic data and rising inflation expectations helped boost demand for higher valuable assets. Gold is trading at $2,937 an ounce, after posting its eighth weekly gain, its longest winning streak since 2020. The rally was supported by a sharp increase in demand for bullion-backed exchange-traded funds, with holdings last week jumping the most since 2022.
As of this writing, gold is at $2,937
Source: Newsmaker.id
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