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13 Sep 2024

Gold continues its rise, reaching a new record high

Global gold prices surged to an all-time high on Friday as the dollar weakened amid expectations of a U.S. interest rate cut next week, while palladium rose by 15% so far this week. The dollar fell to its lowest level in a week, making gold less expensive for holders of other currencies. Gold's rise followed data from the U.S. Department of Labor showing a slowdown in the annual producer price inflation rate to 1.7% in August, down from 2.1% in July, marking its lowest level since February

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