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Find all the economic and financial information on our Orishas Direct application to download on Play StoreAfter data suggested that the Federal Reserve could slow the pace of rate cuts this year, the gold price fell slightly on Wednesday, under pressure from rising US Treasury yields and a stronger dollar
.Spot gold slid 0.1% to $2,648.16 per ounce, starting at 0308 GMT. US gold futures fell by 0.1% to $2,662.30. Bullion is considered to protect against inflation, but high rates reduce the attractiveness of this non-yielding asset. According to official data from the People's Bank of China published on Tuesday, China, the largest consumer, added gold to its reserves in December for the second month in a row.
Spot silver added 0.3% to $30.11 per ounce, platinum fell 0.5% to $946.11, and palladium fell slightly by 0.2% to $946.11, and palladium fell slightly by 0.2% to $923.87.
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