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Gold falls as oil prices rise on US-Iran tensions
Gold prices have fallen to their lowest level in 11 weeks, dropping by 1.3% to $4,206.08 per ounce, amid rising oil prices due to renewed tensions between the United States and Iran. The exchange of airstrikes between the two countries and Iran's responses have heightened concerns about continued increases in interest rates, which could surpass 70% by the end of the year, and the impact this may have on gold, which is considered a hedge against inflation.
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