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Gold Rises As February’s PMI Results Put Doubt On The US Economy’s Solid Prospects.

Gold closed higher by 0.51%, settling at 65,178, driven by a weakening US dollar amid concerns over the robustness of the US economic outlook. February’s PMI figures raised doubts, and the United States ADP (NASDAQ:ADP) Research Institute reported lower-than-expected private payrolls, with 140,000 jobs added compared to the anticipated 150,000. While this figure exceeded the revised January count of 111,000, the data contributed to the dollar’s decline. Federal Reserve Chair Jerome Powell’s cautious stance on rate cuts further influenced the market. 

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