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Gold Gains Amid Rate Hike and Oil Drop
Gold prices rose today by 1.2% to reach $4,314.64 per ounce, after hitting a six-week low. Investors responded to the Federal Reserve's decision to raise interest rates and its hints of further monetary tightening. The decline in oil prices, reflecting increased Saudi oil shipments through Oman, eased supply concerns and supported the rise in gold. Experts expect gold prices to continue fluctuating within a narrow range amid ongoing technical factors and the influence of central bank policies.
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