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Gold Prices Edged Higher As Investors Still Banked On A Fed Rate Cut In June.

Gold prices surged by 0.64% in the previous trading session, settling at 65897, as investors absorbed hotter-than-expected U.S. inflation data while still anticipating a Federal Reserve interest rate cut in June. The rise in U.S. consumer prices in February, surpassing expectations, underscored concerns about persistent inflationary pressures, albeit not derailing expectations of impending rate cuts by the Fed. Despite the robust inflation figures, Fed policymakers are still projected to initiate rate cuts by June, with market sentiment indicating a 65% likelihood of such a move, albeit slightly lower than before the data release.