Gold steady at start of trading
Gold prices settled today, Wednesday, at approximately $4,356.92 per ounce, amid expectations that major central banks will continue raising interest rates for a prolonged period to combat persistent inflation. The interest rate hikes approved by the Federal Reserve and increased to a range of 3.75-4% are among the factors influencing gold's attractiveness as a hedge. Nonetheless, gold futures rose by 0.4%, and the prices of other precious metals such as silver and platinum increased due to diplomatic developments at the United Nations and expectations of further rate hikes.
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