Gold rises at a two-week high

Gold prices rose for a fourth straight session on Wednesday, with the metal hitting a two-week high after economic data and ahead of the Fed meeting minutes.

Annual inflation in the United States accelerated last month as food costs surged, official data showed on Tuesday.

The Fed is due to announce later in the day the minutes of its latest meeting.

For its part, the European Central Bank decided to set the interest rate according to analysts' estimates, with no trend to increase it until the end of this year at least amid increasing risks to the eurozone economy.

The International Monetary Fund (IMF) yesterday lowered its global growth forecast for this year to 3.3 percent from 3.5 percent earlier.

On the settlement, the price of gold futures for June delivery rose about 0.4% to 1313.90 dollars an ounce, the highest level for this decade, the most active since the March 27 session.

By 5:35 pm GMT, the spot price of a yellow metal rose 0.4% to $ 1309.06 an ounce.

During that period, the major dollar index, which measures the performance of the currency against six major currencies, fell by 0.1% to 96.872.


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