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Gold prices rose 0.8% to $2,912.88 per ounce on Tuesday, rebounding from Monday’s low, as investors sought safe havens amid trade war concerns.
Markets are now focused on Wednesday’s U.S. inflation data, which could influence Federal Reserve interest rate decisions. President Trump’s fluctuating trade policies, including tariffs on Canada, Mexico, and China, have unsettled global markets, with these countries implementing retaliatory measures.
While gold typically serves as an inflation hedge, sustained high interest rates could diminish its appeal since it doesn’t yield interest.
