Gold Faces Largest Weekly Drop in Four Months
Gold prices have fallen significantly, marking the largest weekly decline in over four months, due to rising oil prices and strong US economic data. This has led to expectations that the Federal Reserve will keep interest rates high for an extended period, increasing the cost of holding non-yielding gold. The spot price of gold dropped to its lowest level since August, with a weekly decline of 3.6%, along with decreases in other precious metals prices.
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