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Gold falls below key mark
Gold fell to its lowest level in more than a week, slipping below the psychologically important $4,000-an-ounce mark. Spot prices dropped 0.2% to $3,977.99, while futures fell 0.4% to $3,983.20. The decline followed higher-than-expected US inflation data and hawkish remarks, which pushed the dollar to a 19-month high and strengthened expectations of a half-percentage-point US rate hike next month. Investors are awaiting the US producer price index report, due Friday.
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