Gold falls to seven-month low
Gold prices have fallen to their lowest levels in seven months, reaching around $4,000 per ounce, due to the strength of the US dollar and expectations of the Federal Reserve raising interest rates. The spot price of gold declined by 2.7%, while futures contracts dropped by 3.1%, amid rising dollar index and market expectations of rate hikes in July and October, which reduce the appeal of non-yielding gold. Other precious metals also experienced changes, with silver prices rising and platinum and copper prices declining.
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