Gold faces war-driven price drops
Gold prices have steadily declined due to concerns over the potential hike in US interest rates following a strong jobs report. US Treasury yields have risen, and geopolitical tensions in the Middle East have also impacted the market, causing oil prices to increase by more than $3 per barrel. The spot price of an ounce reached $4,313.11, while August futures traded at $4,336.30. Meanwhile, prices for other precious metals like silver and platinum also decreased.
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