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Reuters·1 min read·medium

Gold extends losses to one-week low as dollar rallies on Fed hike bets

Gold extends losses to one-week low as dollar rallies on Fed hike bets
✦AI Summary

Gold prices fell for a third consecutive session, reaching a one-week low, primarily due to a strengthening US dollar. This decline is also attributed to market expectations of further monetary tightening by the Federal Reserve and hawkish signals from policymakers.

Why it matters

This indicates a shift in global financial markets, potentially impacting investment strategies and the purchasing power of currencies, reflecting broader economic sentiment and central bank policy direction.

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Nov 12 (Reuters) - Gold prices fell for a third straight session ​to hit a more than one-week low on Thursday, weighed…

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KitcoBalanced

Gold, silver plunge as hotter U.S. inflation raises prospect of larger Fed rate hike - Kitco PM Report

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