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Gold falls as oil rises and inflation data looms
Gold prices slightly decreased as oil prices rose and markets anticipated US inflation data. The price of gold fell by 0.1% to approximately $4,400 per ounce, with the market remaining cautious due to expectations of a US interest rate hike and its impact on the yellow metal. This decline comes amid rising chances of a rate increase to around 60% and strong employment data influencing US economic outlooks. Other precious metals also declined in price, while platinum increased by 0.6%.
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