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European Stocks Rises as Gold Hits Fresh Record

European stocks rose on Friday and Asian markets stuttered, with gold and oil advancing. This comes as tensions in the Middle East heighten and U.S. inflation data awaits, thereby contributing to widespread market uncertainty.

Futures on the Euro Stoxx 50 rose 0.7%, while in the United States, futures remained relatively static, with futures listed on the S&P 500 and Nasdaq 100 remaining unchanged. Nikkei futures rose by 0.3%, while Hong Kong’s Hang Seng slumped by 1.6%. The Shanghai Composite edged 0.2% higher.

Gold rose by 0.7% to hit a record value of $2,389.34 an ounce. As supply uncertainty rises due to Middle East tensions, with West Texas Intermediate crude rising by 0.8% to $85.69 per barrel. In cryptocurrencies, Bitcoin rose 0.6% to $70,940.49 while Ether was up 0.5% to $3,543.65.

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