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XAU/USD: After a Short-Term Bounce on CPI, Gold Resumed Its Decline
After the publication of US inflation
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After the publication of US inflation data on Wednesday, the precious metal attempted a brief bounce, but it was quickly negated. At one point, the price fell below the psychologically significant level of 4200.00, updating the lows not seen since March 24 to near 4130.00.Investors, holding their breath in anticipation of the key Consumer Price Index (CPI) report, received data that generally aligned with forecasts. However, hopes for a sustainable recovery were dashed: the hawkish tilt of the Federal Reserve's
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Jurij Tolin,
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