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Gold falls on stronger US dollar, fading Fed rate-cut hopes
Gold prices fell to a near one-week low on Monday, pressured by a stronger dollar, while a surge in oil prices following failed US-Iran peace talks fuelled inflation worries and dampened expectations for Federal Reserve interest rate cuts this year. Spot gold was down 0.6% at $4,718.98 per ounce, as of 0222 GMT, after hitting its lowest level since April 7 earlier in the session. US gold futures for June delivery fell 1% to $4,742.The dollar strengthened 0.4% while oil prices jumped above $100 a barrel, as the U.S. Navy prepared a blockade of the Strait of Hormuz that could restrict Iranian oil shipments after ... (full story)
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