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Gold Holds Gains Amid Rate Hike Concerns
The news focuses on gold maintaining its gains near $4,130 per ounce, supported by rising oil prices to their highest levels in several weeks and increasing tensions in the Middle East. The precious metal traded higher amid growing concerns over energy supply disruptions, especially after attacks on oil tankers in the Red Sea claimed by the Iran-backed Houthi group. Additionally, the escalating conflict is influencing U.S. interest rates, with analysts suggesting that gold could decline toward $3,900 if economic pressures persist, despite the metal not yielding any income and facing resistance at $4,200.
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