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Gold stabilizes as U.S. inflation slows, boosting investor confidence
Gold prices stabilized after the U.S. inflation rate declined in June, as consumer prices saw their first decrease in six years, reducing expectations of Fed interest rate hikes. The metal hovered near $4,034 per ounce, despite escalating tensions in the Middle East and rising crude oil prices, which threaten to prolong inflationary pressures and increase the likelihood of maintaining higher interest rates for a longer period.
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