Gold prices falls on Fed Pause Hopes fueled by high inflation and poor labour market data

As worries about future rate hikes by the Federal Reserve returned to the forefront due to U.S. inflation and labour market data

After data revealed that personal consumption rates read much hotter than anticipated in the 1st quarters of 2023. Gold fell on Thursday while Treasury yields rose.

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When the central bank meets the following week. It is widely anticipat that it would increase interest rate by 25 basis points.

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The yellow metals had risen nearly to record a high earlier in April and was still expect to end the month nearly 1 percent higher.

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Chinese statistics revealed that industrial earnings declined more than anticipated in the 1st quarter, supporting the idea.

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