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Gold hits near four-week low as traders ready for Fed verdict

From brecorder.com

Gold prices fell on Wednesday to their lowest level in nearly four weeks as investors looked towards a US Federal Reserve policy decision that could offer for more cues on its rate-cut timeline. Spot gold was down 0.1% at $2,284.44 per ounce as of 0436 GMT, after hitting its lowest level since April 5 earlier in the session. Prices fell as much as 2% on Tuesday due to an uptick in the dollar and US Treasury yields. Bullion prices have fallen more than $140 after scaling a record high of $2,431.29 on April 12. US gold futures were down 0.4% at $2,293.10 per ounce. “Inflation readings have shown no progress at all so ... (full story)

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  • Category: Fundamental Analysis