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Gold falls for fourth day amid inflation worries
Gold prices have declined for four consecutive sessions due to rising oil prices and increasing inflation concerns, amid market anticipation for the Federal Reserve's policy meeting next week. Spot gold fell by 0.1% to $4,119.37 per ounce, while futures contracts dropped to $4,137. Expectations suggest the U.S. interest rates will remain unchanged in October, with a potential increase possible in December. The rise in oil prices adds to inflationary pressures, as investors continue to monitor monetary policy signals and inflation forecasts to inform their strategies.
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