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via rttnews.comEconomy

Gold slumps as dollar advances on expectations of a Fed rate hike

FROM THE WIRE · RTTNEWS.COM

Completely erasing the gains from Monday' session, gold prices have tumbled on Tuesday amid rising expectations of a higher interest rate regime in the U.S. in the near-term following comments from senior Federal Reserve officials on the necessity to combat rising prices as well…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishExpectations of higher US rates weigh on gold and support the dollar.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Gold has erased the gains from the previous session.
  2. 02Senior Federal Reserve officials spoke of the need to combat rising prices.
  3. 03October inflation data was released the same day.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
GoldCOMMODITY:GOLDCommodity4,037.40 USD-0.01%today -1.87%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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