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Gold falls toward weekly loss amid Middle East tensions
Gold prices slightly declined today, Friday, and are heading for a weekly loss due to diminished hopes of reaching a peace agreement between the United States and Iran amid rising tensions in the Middle East, increasing inflation, and concerns over interest rate hikes. The spot price of an ounce of gold registered $4,462.22, down 0.3%. Additionally, the August gold futures contract fell to $4,489. Other precious metals such as silver, platinum, and palladium also declined, all heading towards a weekly decrease.
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