Gold, Silver Near Record Highs as US Data Support Rate-Cut Bets
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Gold:Gold and silver hovered near record highs, after slower-than-expected inflation in the US supported bets for more interest-rate cuts. Platinum was close to a 17-year peak.Spot gold was near $4,330 an ounce, and on track for a second weekly gain. The core US consumer price index rose at the slowest pace since early 2021, according to data released on Thursday, bolstering the case for lower borrowing costs – a tailwind for non-yielding precious metals.