Gold declines 1.5% in monthly low

Gold prices have fallen by more than 1.5%, recording a monthly loss of over 12.7%, the largest decline since October 2008. This comes amid expectations of an increase in U.S. interest rates to combat inflation and rising energy prices. Investors are looking ahead to the upcoming U.S. employment data this week to assess the Federal Reserve's stance, with forecasts of three rate hikes over the year. The rise in the dollar and expectations of higher interest rates have also led to declines in other precious metals, such as silver and platinum, alongside gold.

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