Oil and gold fall amid easing tensions and rate hike expectations
Oil and gold prices declined today due to a reduction in geopolitical concerns in the Middle East and improved oil flows through the Strait of Hormuz, along with the strengthening of the dollar and expectations of tightening monetary policy in the United States. Brent crude fell to $76.81 per barrel, West Texas Intermediate to $72.99, while gold prices dropped by 1.1% to $4,142.61 per ounce, with the likelihood of an American interest rate hike now estimated at 88%.
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