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US Dollar Surges on CPI Beat, Gold Pressured
The Dollar Index surged on the back of robust inflation data, surprising investors and challenging expectations of an imminent rate cut. US Consumer Price Index (CPI) figures outpaced forecasts for the fourth consecutive month, reaching 3.5% over the 12 months to March. This unexpected inflationary pressure prompted a reevaluation of market sentiments regarding Federal Reserve policy moves. Gold prices faced downward pressure amidst a strengthening US Dollar, dampening the appeal of the precious metal as a hedge against inflation. However, rumours of sustained gold purchases by major central banks, particularly in ... (full story)