Bullish news for gold rises
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The occurrence of the Palestinian-Israeli conflict well illustrates the hedging role of gold. Yesterday's opening price jumped directly higher. After the tension increased after Hamas attacked Israel, the demand for hedging increased. At the same time, Federal Reserve officials issued dovish statements. After the speech, the U.S. dollar index fell to its lowest level in more than a week, which also provided upward momentum for gold prices. At present, the market's focus is on the situation in the Middle East. If the situation escalates further, gold may rise again in the short term.
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