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Gold drops before Jackson Hole
Gold prices significantly declined after a four-session increase, falling by $43 to approximately $4,597 per ounce for September delivery. Investors are taking profits ahead of the upcoming Jackson Hole meetings on Friday, while awaiting U.S. inflation data. Additionally, American economic data showed that the Consumer Spending Price Index rose by 3.5% year-over-year in July, surpassing expectations. This indicates ongoing inflation and raises prospects of further monetary tightening.
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