Gold prices soar above $1,950 on weak U.S. inflation, while copper surges
Gold prices stabilized near a one-month high following the release of lower-than-anticipated U.S. inflation data, which led to speculation of a more restrained Federal Reserve approach. Meanwhile, copper was boosted by the potential for increased stimulus measures in China, a major importer.
The price of gold recorded its strongest intraday surge in over two months, mirroring a drop in the dollar and Treasury yields following the release of June's consumer price index (CPI) data, which showed lower-than-expected inflation.
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