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Gold edges higher on new Covid-19 strain, inflation woes
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Last Updated: Apr 01, 2021, 08:14 AM IST
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Synopsis
Stimulus measures increase the chances of higher inflation and gold is often considered as a hedge against it.
Spot gold was up 0.2% at $1,710.28 per ounce.
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FUNDAMENTALS
Spot gold was up 0.2% at $1,710.28 per ounce by 0156 GM, though it was set for its second straight weekly fall.
U.S. gold futures fell 0.3% to $1,709.80 per ounce.
U.S. President Joe Biden on Wednesday called for a sweeping use of government power to reshape the world s largest economy and counter China s rise in a $2 trillion-plus proposal that was met with swift Republican resistance.
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