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The Economic Times

Gold drops more than 1% as rising Middle East tensions add to rate-hike fears

Gold United States the Federal Reserve US Federal Reserve Oil Inflation the Middle East

Gold prices fell more than 1% on Monday as fresh strikes in the Middle East heightened inflation concerns, raising prospects of higher-for-longer U.S. interest rates.

Spot gold was down 1.4% to $4,064.02 per ounce by 9:08 a.m. EDT (1308 GMT). Prices were down for the second straight session.

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