Gold drops as oil gains amid US-Iran tensions
Gold prices declined by 0.5% to $4,067.99 per ounce, as oil prices rose due to renewed fighting between the United States and Iran, with tensions applying pressure on the metal. This came amid expectations of the Federal Reserve raising interest rates, with markets anticipating three possible increases this year. Trading has been volatile amid ongoing tensions in the Middle East and their impact on gold and oil prices.
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