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Market Impact: 0.58
Gold Trades Near Seven-Week Low as Rate-Hike Pressure Mounts
Source: Bloomberg
Commodities & Raw MaterialsEnergy Markets & PricesGeopolitics & WarMonetary PolicyInterest Rates & Yields
Gold remained sharply lower as the unresolved US-Iran deadlock over the Strait of Hormuz kept energy costs elevated. Persistent energy-price pressure is reinforcing expectations for further Federal Reserve interest-rate hikes, a bearish backdrop for non-yielding gold.
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