Gold Prices Today: Spot Gold Up 0.5% as Investors Seek Safe Haven

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Gold Prices Today: Spot Gold Up 0.5% as Investors Seek Safe Haven

Gold prices were up on Tuesday, as investors sought out the safe-haven metal amid rising inflation and economic uncertainty.

Spot gold was up 0.5% to $1,844.40 an ounce at 10:00 a.m. ET. US gold futures were up 0.4% to $1,846.50 an ounce.

The rise in gold prices comes as investors are increasingly worried about the global economic outlook. Inflation is rising in many countries, and there are concerns that the US Federal Reserve may raise interest rates too quickly, which could lead to a recession.

Gold is seen as a safe-haven asset, and investors often buy it when they are worried about the economy. The metal is also seen as a hedge against inflation.

The rise in gold prices is likely to continue in the near term, as investors remain concerned about the global economic outlook. However, if inflation starts to fall and economic growth picks up, gold prices could start to decline.

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