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Market Impact: 0.35
Gold Holds Drop as Higher Oil and Hot US Data Fan Rate-Hike Bets
Source: Bloomberg
Commodities & Raw MaterialsEnergy Markets & PricesInterest Rates & YieldsMonetary PolicyInflationEconomic Data
Gold extended its decline as resurgent energy prices and stronger-than-expected US economic data increased expectations that the Federal Reserve could resume rate hikes to contain inflation. The prospect of higher interest rates pressures non-yielding gold and signals a more hawkish monetary-policy outlook.
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