Gold declines near lowest level in a week amid renewed fighting
Gold prices today, Thursday, fell near their lowest point in a week, influenced by escalating tensions between the United States and Iran. This led to a rise in oil prices and increased fears of inflation, alongside ongoing hikes in interest rates. The spot price of gold decreased by 0.4% to $4,060.46 per ounce, amid expectations of a US interest rate hike in the coming months, which puts pressure on the metal as an inflation hedge.
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