(Bloomberg) -- Gold was little changed in New York on speculation the U.S. Federal Reserve won't have to raise interest rates after a report showed inflation may be abating. Silver climbed.
Higher rates often boost the value of the dollar and make holding gold less attractive because the metal has no fixed returns. Before today, gold was up 5 percent this year, while the dollar dropped 2.6 percent against the euro. Gold reached an 11-month high on April 20 as the euro headed to a record against the dollar a week later.
Read more at Bloomberg Commodities News
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