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The bullion rose more than 3% on Thursday to breach the $5,500 per ounce mark for the first time.
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The Federal Reserve chose to pause rate cuts, even as it faces relentless attacks from President Trump for not cutting borrowing costs fast enough.
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The Federal Reserve on Wednesday released its decision on interest rates.
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The central bank cut rates at its three previous meetings in an effort to support the job market. But with inflation still elevated, the Fed is cautious about additional rate cuts.
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