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Gold stabilizes amid escalating Gulf tensions and potential U.S. interest rate hike
Gold prices stabilized amid rising tensions in the Arab Gulf and the possibility of a U.S. interest rate hike. They traded near $4,020 an ounce after previously losing 2.9%. The deteriorating relations between the United States and Iran, along with escalating hostilities, led to higher energy costs and increased expectations of tighter monetary policy.
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