Gold Holds Drop to Near One-Year Low as Rate-Hike Bets Increase

Gold prices fell to their lowest level in approximately one year as investors increased bets on Federal Reserve rate increases to address inflation. The Fed has not announced a rate hike decision as of the report date. Higher interest rates typically reduce demand for gold, which yields no interest income.

• Bloomberg — Gold Holds Drop to Near One-Year Low as Rate-Hike Bets Increase

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