Gold faces largest weekly decline in months

Gold prices declined during the current week, recording the largest weekly loss in over four months, due to rising oil prices and developments in U.S. economic data that boosted expectations that the Federal Reserve will keep interest rates high for a longer period. The price of an ounce dropped to around $4,014, reaching its lowest level since early August, down approximately 3.4% since the beginning of the week. Other precious metals, such as silver, platinum, and palladium, also saw decreases ranging from 0.4% to 1%, with expectations of further weekly declines.

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