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The gold market is currently undergoing fluctuations as gold prices are anticipated to register their second straight weekly dip. This downturn in the prices comes in wake of a resilient U.S. economy which continues to stabilize and uphold the U.S. dollar at multi-week highs. The strength of the dollar has traditionally been inversely related to the gold prices – a stronger dollar often leads to a decrease in gold prices.
Apart from these market dynamics, the focus for investors and analysts is now shifting towards an impending inflation print due to be released later in the day. This significant financial data point is expected to impart further impact on gold prices and sway the market sentiments accordingly. Experts continue to closely observe and analyse the intertwined factors of the resilient economy, strong dollar and inflation expectations.
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