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Gold prices decline amid inflation fears as hostilities toward Iran intensify

Gold prices decline amid inflation fears as hostilities toward Iran intensify

Gold prices today, Thursday, declined close to their lowest level in a week, due to the renewed American aggression against Iran. This has led to rising oil prices, increased inflation fears, and expectations of an extension of high interest rates. The spot price of gold fell by 0.4%, reaching $4,060.46 per ounce, with markets estimating a 68% chance of a U.S. interest rate hike in September and an 87% chance in January 2027. Other precious metals experienced fluctuations as well, with platinum and palladium prices rising, while silver fell.

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