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Gold drops amid Fed policy outlook
Gold prices fell today, Tuesday, as it is expected that the Federal Reserve will adopt a more hawkish monetary policy this year due to ongoing inflation pressures and geopolitical tensions in the Middle East. The spot price of gold decreased by 0.3% to reach $4,332.34 per ounce, with a 90% probability of a US interest rate hike in December, influenced by the strength of the dollar and rising energy prices. Other precious metals also experienced changes, with silver declining and platinum and palladium rising.
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