Gold declines amid Middle East escalation as silver reaches $57 an ounce
Gold prices fell on Thursday by 0.6% to $4,034.42 per ounce, amid increasing tensions in the Middle East and rising oil prices, which heightened inflation concerns and the likelihood of interest rate hikes. Silver declined to $57.14 per ounce, platinum dropped to $1,664, and palladium decreased to $1,309.86, all against the backdrop of ongoing escalation between the United States and Iran and its impact on financial markets.
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