Gold holds steady near $4,400
Gold prices rose close to $4,400 per ounce amid geopolitical concerns in the Middle East and expectations of a possible increase in U.S. interest rates, following strong employment data in August that added 162,000 jobs. Despite pressures from interest rate hikes and market volatility, the metal formed a strong support base, with the potential to reach record levels possibly approaching $5,000 in the future. Additionally, maritime tensions in the Strait of Hormuz supported rising oil prices, fueling fears of global inflation.
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