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Gold falls amid Middle East clashes
Gold prices fell today, Wednesday, due to renewed fighting in the Middle East, which led to a rise in oil prices and increased concerns about sustained interest rate hikes to combat inflation. The spot price of gold decreased by 0.2% to $4,476.50 per ounce, while US gold futures for August delivery declined by 0.3% to $4,504.40. Meanwhile, oil prices rose by more than 1%, reflecting economic worries in the region.
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