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Spot gold surged 4.20% overnight to $4308, marking its largest single-day gain in five months.
This round of increases was mainly driven by multiple factors, including former US President Donald Trump's statement on reopening negotiations for the Strait of Hormuz, global central banks' better-than-expected expansion of gold reserves in the second quarter (with the Bank of Korea resuming gold purchases after 13 years), and cooling expectations for a September rate hike by the Federal Reserve.
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Source：华尔街见闻 · Source Link
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