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Commodities

Gold Prices Plummet Amid Middle East Tensions and US Labor Market Uncertainty

Guavy AI Editorial Team
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Gold prices dropped on Tuesday as market participants weighed Middle East tensions and awaited crucial US labor market data that could influence expectations for Federal Reserve monetary policy. Spot gold fell by $4428.54 per ounce, reaching its lowest point since August 19. The price decrease came after spot gold hit its highest level in more than three months before plummeting 3% on Friday.

US gold futures declined slightly, edging 0.1% lower to $4,477.20. Meanwhile, other metals showed mixed performance: spot silver fell 0.2%, platinum increased by 0.4%, and palladium remained steady at $1,355.08.

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