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Gold prices decline amid rising jewelry demand
Gold prices experienced a decline today, Wednesday, August 5, 2026, in local markets. The price of a gram of 21-karat gold dropped by about 30 pounds, reaching 7,087 pounds, following the U.S. Federal Reserve's decision to raise interest rates and its impact on global markets. Gold prices also fell worldwide, with the ounce trading around $4,078. Price fluctuations are expected to continue due to changes in global interest rates and the U.S. dollar exchange rate, as investors continue to monitor market movements as a safe haven.
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