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Gold Faces Third Weekly Decline
Gold prices declined today, Friday, amid a rise in the dollar, with the precious metal heading toward its third consecutive weekly loss. This decline was driven by expected tightening measures from the U.S. Federal Reserve and increasing inflationary pressures resulting from tensions with Iran. The price of an ounce fell to $4,189.26, with the rising dollar making gold more expensive for buyers using other currencies. Meanwhile, tensions in the Strait of Hormuz continue, along with the US announcement of lifting sanctions on Iran. Other precious metals also experienced noticeable declines.
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