Gold extends gains amid rate hike concerns
Gold prices rose for the third consecutive session amid easing concerns over an imminent US interest rate hike. The price increased by approximately 0.4%, reaching $4,431.09 per ounce. Most economists expect the Federal Reserve to keep interest rates unchanged in September and through the end of the year, citing weak economic data. The gold market is benefiting from a weaker dollar and expectations of no rate hikes, while investors are closely watching the upcoming release of the Federal Reserve's meeting minutes. Additionally, other precious metals experienced modest gains as investors continue to monitor US and Iranian policies.
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