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Gold price advances as investors weigh mixed signals on US economy

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Gold rose after mixed signals from the US, where optimism is growing the economy is on target for a soft landing as the Federal Reserve fights inflation.

Chicago Fed President Austan Goolsbee said Friday that additional reports like April’s would give him comfort the economy isn’t overheating, which may boost the case for monetary easing this year. Higher rates are typically negative for bullion, which doesn’t pay interest. Bullion became less attractive in recent weeks on signs that the Middle East is easing away from a potential full-blown war.

 

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