Gold races past $2,000/oz after weaker U.S. data
April 4 (Reuters) - Gold extended gains on Tuesday and crossed the key $2,000 level as the dollar and yields fell, while weaker U.S. economic data emboldened bets for slower rate hikes despite mounting concerns over oil-led inflation. At 11:30 a.m. EDT (15:30 GMT), spot gold surged 1.7% to $2,017.89 per ounce, reaching its highest level since March 9, 2022 at $2,024.79 earlier. Meanwhile, U.S. gold futures rose by 1.8% to $2,036.20. Silver also gained, rising by 3.2% to $24.75 per ounce, platinum by 2.7% to $1,011.95, and palladium by 0.6% to $1,468.52, all buoyed by gold's upward momentum. According to David Meger, director of metals trading at High Ridge Futures, gold is in a positive environment due to slowing economic data and persistent inflationary pressures. Furthermore, the dollar's decline, following weak U.S. job opening and factory order data, has made gold more attractive, especially to traders holding other currencies. In addition, gold's role as a preferred in...