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Gold Prices Decline Amid Dollar Strength and Fed Policy Uncertainty
Gold Prices Decline Amid Dollar Strength and Fed Policy Uncertainty
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BTCCSquare news:
Gold prices slipped below the $4,000 threshold, settling at $3,986.10 per ounce as the U.S. dollar surged to a three-month high. The stronger dollar rendered Gold more expensive for international buyers, dampening demand.
Federal Reserve Chair Jerome Powell's remarks cast doubt on a December rate cut, prompting markets to recalibrate expectations. This shift in monetary policy outlook further pressured gold, which traditionally thrives in low-rate environments.
The precious metals complex mirrored gold's weakness, with silver, platinum, and copper all posting significant declines. Trade tensions between Washington and Beijing added another LAYER of uncertainty, despite recent diplomatic progress.
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