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Gold edges up from one month low, US dollar softens

Published on Feb 14, 2023 14:46

COMEX Gold futures edged up from a one month low as the US dollar fell ahead of the consumer price inflation data and pulled up the precious metals. The commodity is currently trading at $1869 per ounce, up 0.32% on the day. The commodity is also tracking some escalation in the US-China relations after the second largest economy in the world said that the US has flown in more than 10 balloons in its Airspace in Last Year. The overall demand dynamics are still quite fuzzy for the metal following the recent run up in the prices that took the metal to record highs in leading consumer India. Chinese Gold buying is reportedly picking up though and could support the metal from hereon.

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