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Global gold prices rise 10% in first quarter

Global gold prices rose to the highest in 12 months, up almost 10% year-on-year in the first quarter because of unpredictable US policy, says YLG Bullion & Futures chief executive Tipa Nawawattanasub.

In the first quarter of this year gold prices shot up by an average of 8.4% to US$1,248.63 an ounce because of indications the US Federal Reserve would slow its pace of interest rate increases instead of dispensing them rapidly as earlier expected.

The signals, coupled with the failure of President Donald Trump to push his healthcare policy through the Republican-controlled Congress, sent the US dollar downhill.

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