Gold often serves as a hedge against inflation, so it's not surprising to see its prices rising as investors await key inflation data. The upcoming U.S. inflation reading could provide valuable insights into the Federal Reserve's approach to monetary policy, especially regarding interest rates. If inflation appears to be rising faster than expected, it could prompt the Fed to consider tightening monetary policy sooner than anticipated, which might impact various asset classes, including gold. Investors are likely keeping a close eye on these developments to make informed decisions about their portfolios.
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