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Gold prices decline globally amid concerns over interest rates and inflation
Global gold prices slightly declined, recording $4,035.67 per ounce in spot trading after previously reaching a record high exceeding $4,100. The market was influenced by increasing inflation fears and rising U.S. interest rates. This came amid signs of easing inflation in the United States and rising oil prices, following the U.S. decision to impose a comprehensive naval blockade on Iranian ports, which raised concerns of a new wave of inflation. Additionally, markets observed a decline in silver prices, while industrial metals such as platinum and palladium experienced a slight increase.
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