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Gold falls to one-week low on hawkish Fed minutes
Gold prices declined to a one-week low on Thursday, extending their fall a third consecutive session on profit taking after minutes from Federal Reserve's latest meeting indicated that interest rates would stay higher for longer. Spot gold fell 0.7% to $2,361.76 per ounce as of 0939 GMT, after hitting its lowest since May 15 at $2,354.79 earlier in the session. Bullion hit a record high of $2,449.89 on Monday but has fallen 3.6% since then. It still holds above its 21-day moving average of $2,348.6. "The latest Fed minutes showed officials are in no rush to cut rates. In fact, several questioned if the ... (full story)