💰 Gold has surged to $4,400, its highest level since early June, as weak US jobs data, persistent inflation and a weaker dollar fuel expectations of further gains.
📊 Slowing job creation and PCE inflation above the Fed’s 2% target are strengthening the case for easier monetary policy, while rising oil prices are adding to stagflation concerns.
🏦 Growing investor concerns over central bank credibility, alongside increased central bank gold purchases, ETF demand and speculative positioning, are providing another boost for the precious metal.
⚠️ Gold now faces a key test from upcoming US inflation data. The slower consumer price growth is, the greater the chances that the rally will continue.
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