(Bloomberg) -- Gold and silver rose in New York on speculation the U.S. Federal Reserve won't raise interest rates after a report showed inflation may be abating.
Higher rates often boost the value of the dollar and make holding the metals less attractive because they offer 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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