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Precious Metals Preview: Gold dips to two and half week low; Set for weekly decline of around 2.5%
28-Feb-2025 09:18

COMEX gold dipped to a two and half week low in tandem with sharp spike in US dollar index overseas after Trump confirmed that his proposed 25% tariffs on Mexico and Canada will take effect on March 4, along with additional 10% duty on Chinese goods. Moreover, US GDP for Q4 2024 came in as expected at 2.3%, confirming steady economic growth. The yellow metal is set for a 2.5% decline this week but still holds up 1.5% gain for the month. Investors have placed eyes on the upcoming US PCE price data'the Fed's preferred inflation gauge'due later today for further monetary policy signals.

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