CNBC Africa·3 min read·hard
Gold price hits highest level since June on weak payrolls data and Hormuz deal hopes
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CNBC
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Gold prices reached a seven-week high due to weak U.S. payroll data and potential progress in reopening the Strait of Hormuz. The precious metal is benefiting from a weakening dollar and reduced expectations for aggressive interest rate hikes by the Federal Reserve.
Gold rose to its highest level since late June on Wednesday, amid weaker-than-expected payrolls data and hopes for a reopening of the Strait of Hormuz.
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