Gold trends lower ahead of U.S. rate outlook
Gold prices declined today, heading towards a weekly loss of 3.2%. The spot price of an ounce dropped to $4,191.17, while August futures rose by 2.4% to $4,212.70. The market is influenced by concerns over inflation and the possibility of US interest rate hikes, amidst developments in the Middle East and as gold reaches its lowest level in more than six months.
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