Gold price hits 1-week high on robust China economic data. gold
The US dollar hit a one-week low earlier in the day after China’s yuan gained as the country’s manufacturing activity expanded at its fastest pace since April 2012, making bullion more affordable for foreign buyers.since June 2021 in February after strong US data pointed to a resilient economy, suggesting that the Federal Reserve could deliver more rate hikes to curb inflation.
It is expected that US employment and consumer prices reports in the next two weeks would help investors to gauge the path of interest rates.
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