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Gold prices hover near $4,426 per ounce
Gold prices rose to approximately $4,426 per ounce, amid ongoing concerns over escalating tensions between Washington and Tehran, and a slight decline in the dollar, which increased its appeal to investors. This followed U.S. President Trump’s indication that the recent attacks on Iran would be short-lived, easing fears of a prolonged war. Meanwhile, the market is leaning towards expectations of declining inflation and American data showing a slowdown in job growth, reducing the likelihood of an interest rate hike by the Federal Reserve.
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