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Gold drops ahead of Fed rate decision
Gold prices edged down slightly as investors awaited the Federal Reserve's decision on interest rates. It is expected that the Fed will keep interest rates unchanged at its meeting, which concludes on Wednesday. The spot price of gold decreased to $4,021.87 per ounce, with the dollar remaining near its highest level in a month, increasing the cost of gold for buyers using other currencies. This came alongside statements about Iran's missile launches and its attempt to carry out an attack on U.S. forces in the Middle East, in addition to a Gulf plan to manage the Strait of Hormuz.
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