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Market Update

Gold Closes Lower to Narrow Weekly Rise

Gold prices decreased on Friday, limiting its fourth consecutive weekly rise, amid fluctuations by the U.S. (USD) that seem to be struggling for direction after the recent remarks by the Federal Reserve Chair Jerome Powell relatively eased concerns about the recent surges in inflation. Gold futures front-month contracts for July …

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U.S. Business Inventories Rise in May

Business inventories in the United States increased by 0.5% in May, according to official data. The increase came above the expected 0.1%, with businesses aiming to cope with the rising demand as the economy reopens and shows more signs of recovery from the coronavirus pandemic (COVID-19). Moreover, the ratio of …

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Eurozone Inflation Easing Confirmed

Official data on Friday confirmed a slowdown in eurozone inflation in June after a steady acceleration in the first months of 2021, while the bloc’s trade surplus narrowed in May due to a decline in exports. The European Union statistics office Eurostat said consumer prices in the 19-nation currency bloc …

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