Gold prices fell 0.4% to $4,330.79 an ounce on Wednesday afternoon, hitting their lowest level since August 7. The drop was driven by a stronger dollar and escalating geopolitical tensions.
Gold Falls to Three-Week Low on Stronger Dollar
Gold prices dropped to a three-week low on Wednesday as a stronger U.S. dollar and escalating inflation risks pressured the metal. Geopolitical tensions lifted oil prices and fueled expectations of a Federal Reserve rate hike.
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