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Gold fell 3.6% on Friday, with the spot price reaching $3,875.55 per ounce—its lowest level in more than a year—while futures slipped to $3,884.90. In October, spot gold lost 6.8% and futures 7.3%, putting both on track for a second consecutive monthly decline. The drop came amid a market sell-off and inflation concerns driven by rising oil prices, which strengthened expectations of U.S. interest-rate hikes and weighed on gold, as investors turned to Treasury bonds and the Japanese yen.
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