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Gold Falls on Rate Hike Concerns
The article discusses the decline in gold prices today, Monday, as the spot price fell to approximately $4,318.79 per ounce amid growing fears of a US interest rate hike following the release of a strong jobs report. Additionally, the rise in US Treasury bond yields pushed gold prices down, as market concerns grew over the impact of rate hikes on a non-yielding metal. Furthermore, renewed fighting in the Middle East and rising oil prices have heightened inflation fears, affecting the gold market and other precious metals.
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