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Gold Drops Most Since 2008
Gold prices declined by more than 1% to reach $3,956.92 per ounce, marking the largest monthly decrease since 2008, amid expectations of a Federal Reserve interest rate hike and increasing uncertainty in the Middle East. Investors anticipate the Federal Reserve will raise interest rates three times this year, with a 64% probability in September, which negatively impacts gold prices. Other precious metals also experienced losses, with significant declines in silver, platinum, and palladium.
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