Gold declines near $4,000 on dollar increase
Gold prices retreated near the 4,000-dollar mark per ounce, amid a rising US dollar and expectations that the Federal Reserve will raise interest rates. It is worth noting that the gold price decreased by 1.2% to $4,062.72 per ounce, while futures contracts declined to $4,079.87. Market expectations indicate a 70% chance of a rate hike in September. Additionally, the strengthening of the dollar index contributed to increased pressure on the precious metal's price, as investors await US inflation data to determine the monetary policy direction.
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