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Gold prices increased on Tuesday due to a weaker dollar and lower energy costs following President Trump’s Donald Trump stated that the Middle East war could be over soon.
A break from a probable war-driven increase in inflation would lessen the possibility of central banks boosting interest rates, which would be beneficial to non-yielding gold.
As of 02:33 GMT, spot gold had increased 0.8% to $5,179.52 per ounce. April delivery of U.S. gold futures increased 1.7% to $5,188.70.
Because of the dollar’s 0.4% decline, holders of other currencies can now purchase bullion at a lower cost.
Source: newsthemegh.com