Gold falls below $4,400 early midweek
Gold prices declined slightly as the dollar fell below $4,400 per ounce, amidst expectations of a rate hike by the US Federal Reserve and inflation concerns stemming from escalating tensions in the Middle East. Markets are awaiting key inflation data from the US, with rising oil prices adding to inflationary pressures. Although gold is traditionally viewed as a hedge against inflation, the increase in interest rates reduces its attractiveness. Meanwhile, other precious metals like silver and palladium continued to decline, while platinum prices rose.
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