Gold Revitalized as Equity Sell-Off Spurs Second Weekly Advance
- Thursday’s surge was biggest since Brexit vote in 2016
- Slower-than-expected U.S. CPI boosts price to 10-week high
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Gold may have finally snapped out of its inertia.
Prices largely held the biggest gain since June 2016, when the U.K. voted to exit the European Union, after a slump in global equity markets stoked demand for the metal as a store of value. Bullion received another shot in the arm during Thursday’s surge after data showing weaker-than-expected U.S. inflation raised speculation that the Federal Reserve may slow the pace of interest rate increases.