Gold prices decline for second session as tensions rise
Spot gold fell to $4,494 on Wednesday as U.S.-Iran tensions fueled inflation fears. Investors await U.S. inflation data to gauge the Federal Reserve rate outlook.
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Gold fell 0.3% to $4,494.16 per ounce as geopolitical tensions in the Middle East pressured the metal. Prices are approaching support at $4,450 after Iran accused the United States of violating a ceasefire. Renewed conflict fuels inflation concerns, potentially forcing the Federal Reserve to maintain higher interest rates for longer.
