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Gold hits nearly $4,330 an ounce
Gold prices remain elevated around $4,330 per ounce amid rising inflationary pressures due to increasing U.S. inflation and escalating tensions in the Middle East, which have led to higher oil prices and expectations of interest rate hikes by the Federal Reserve. Domestically, gold prices have recorded weekly losses but remain supported as a hedge, while markets head toward further volatility amid ongoing regional tensions and their economic repercussions.
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