Gold drops 0.7% to $4,152
Gold prices declined today by 0.7%, reaching approximately $4,153 per ounce, despite the release of U.S. inflation data that came in below expectations. This lessened the likelihood of the Federal Reserve raising interest rates. The increase in energy prices and the strengthening dollar continued to exert downward pressure on the precious metal, resulting in nearly a 6.6% monthly loss. This decline coincided with falls in other precious metals, as silver dropped by 2.1%, platinum by 0.4%, and palladium by 1.5%.
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