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Gold dips as dollar strengthens
Gold prices declined today as the US dollar strengthened, amid investor anticipation of the Federal Reserve's September meeting minutes, which will clarify the likelihood of another interest rate hike. The price fell by 0.8% to reach $4,130.37 per ounce, with expectations that the minutes will reveal how committed the Fed is to raising rates to control inflation. Despite the drop in gold, some forecasts suggest its price could reach $5,013 in the coming months, while Federal Reserve officials' statements confirm the central bank's continued commitment to contain inflation through interest rate hikes if inflationary factors persist.
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