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Gold hits six-month low amid Middle East tensions
The price of gold dropped to its lowest level in over six months, falling to around $4,063.87 per ounce, while oil prices rose by more than two dollars following new American strikes on Iran and the closure of the Strait of Hormuz. This escalation has heightened fears of inflation, at a time when American data indicate that the Consumer Price Index has been rising rapidly for the past three years, reinforcing prospects of keeping interest rates high until 2027.
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