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Gold falls 2% amid oil increase and Fed policy hints
Gold prices declined by approximately 2% during Thursday's trading session, influenced by escalating tensions in the Middle East and rising oil prices, along with growing inflation fears. This has led to increased expectations that the U.S. Federal Reserve will raise interest rates to 78% in September, up from 68% previously, due to ongoing regional conflicts threatening energy supplies and intensifying inflationary pressures. The rise in oil prices continues to exert downward pressure on gold prices, as higher interest rates are expected to reduce the appeal of the non-yielding yellow metal.
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