Gold prices see sharp drop
Gold prices declined by approximately 3% today following the release of the US jobs report, which reinforced expectations that the Federal Reserve will keep interest rates high for a longer period. This comes amid concerns over inflation due to the war in the Middle East. The price of an ounce dropped to around $4,342 in spot transactions, with gold futures declining by 3.1% to $4,365. Other precious metals, such as silver, platinum, and palladium, also experienced sharp declines throughout the day.
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