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Gold trades high, spot gold gains

ByVictoria

Spot gold gained 0.5% to $2,946.68 an ounce, as of 1131 GMT

“Gold continues to be supported by the prospect of a tariff-driven economic slowdown, potentially bringing forward U.S. Fed rate cut expectations,” Ole Hansen, head of commodity strategy at Saxo Bank, said.

“I maintain my bullish stance on gold, expecting an economic slowdown or even stagflation to drive demand and price of gold higher.”

Spot silver was flat at $33.21 an ounce, platinum lost about 1% to $974.45, while palladium dropped 0.2% to $947.17.

Source – Reuters

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