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Gold dips under $4,000 amid strong dollar
Gold prices have declined significantly, approaching the $4,000 per ounce level due to the strengthening of the US dollar and rising expectations of interest rate hikes by the Federal Reserve, amid anticipation of upcoming US inflation data. The spot price of gold dropped by 1.2% to $4,062.72 per ounce, while futures fell to $4,079.87. This marks losses in five of the last six sessions, as the dollar index reached its highest level in 13 months.
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