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Gold Slips as Oil Risk Tests Fed Outlook
Gold slipped below $4,550 an ounce on Tuesday as traders weighed fresh Middle East risks against hopes that lower oil prices can cool inflation pressure. XAU/USD traded at 4,542.82, down 27.95, or 0.61%, at 05/26 06:54:42 GMT+3. The session high stood at 4,580.10, with a low of 4,527.60, an open at 4,570.10, and a close at 4,570.77. Spot gold also fell around 0.6% to $4,542.20 per ounce, while US gold futures gained 0.4%. tweet The move shows how gold is struggling to act as a clean safe-haven trade. Middle East risk usually supports bullion, but the inflation channel is now working against it. When oil shocks lift ... (full story)