Gold settles firmly in the green, books highest finish in nearly 3 weeks

Gold prices rallied Wednesday, settling at its highest in nearly 3 weeks, as inflation data came in stronger than expected. April gold rose $27.60, or 2.1%, to settle at $1,358 an ounce. The consumer-price index climbed 0.5% in January, the biggest increase in five months, sparking demand for gold as a hedge against rising prices.

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