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Gold heads for weekly loss amid expectations of interest rate hikes
Gold prices dipped slightly, decreasing by 0.1% to $4,115.79 per ounce, heading toward a weekly loss of 1.4%. This comes amid concerns over escalating tensions between the United States and Iran, which could exert upward pressure on inflation and keep the Federal Reserve’s monetary policy hawkish. Meanwhile, prices of other metals such as silver, platinum, and palladium temporarily rose, but they still remain on track for weekly declines.
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