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Gold falls on rate concerns
The global gold price has fallen to approximately $4,274 per ounce due to rising U.S. Treasury bond yields and expectations of tightening monetary policy, resulting in a weekly loss of about 2.4%. The continued increase in bond yields and the dollar are exerting pressure on the precious metal's price, as investors await the direction of U.S. monetary policy and statements from Federal Reserve officials, which have increased the likelihood of sustained interest rate hikes. Currently, gold prices depend on market movements and remain below the peak levels reached earlier in the year.
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