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Gold prices continued their ascent, extending two consecutive weeks of gains to reach their previous peak for October.
Gold benefited from a market consensus that the Federal Reserve has largely concluded its rate hikes, with increasing expectations of a rate cut in the second quarter of next year.
Additionally, a weaker US dollar, sliding US yields and a slowing global economy are enhancing gold’s appeal as a safe haven asset.
This week’s US economic data, particularly on GDP growth and inflation, could affect sentiment and, consequently, gold prices.
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