Gold declines amid inflation worries
Gold prices rose today, Wednesday, amid a slight decline in the dollar. The spot price of an ounce increased by 0.4% to reach $4,372.19, while US December futures contracts fell by 0.5% to $4,416. Precious metals such as silver and platinum also rose, while palladium declined. This comes amid expectations of rising US interest rates, as investors await upcoming inflation data, and as the increase in oil prices impacts inflation, putting pressure on the gold market and influencing investor sentiment.
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