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Gold dips as investors await US inflation data
Gold prices dropped on Monday by 0.5% to around $4,322 per ounce, after reaching their highest level in seven weeks during the previous session, as investors took profits. This comes amid market anticipation for U.S. inflation data that will influence the Federal Reserve's interest rate trajectory. The market also saw declines in silver, platinum, and palladium prices, amid expectations that gold prices will remain supported above the $4,300 level in the near term, as rising geopolitical uncertainty and economic data continue to impact interest rate forecasts.
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