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Commodities

Gold Prices Plummet Amid Stronger Dollar and Escalating US-Iran Tensions

Guavy AI Editorial Team
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Gold and silver prices on the MCX fell on Friday morning due to profit-taking amid an uptick in the US dollar and escalating US-Iran tensions.

The US-Iran conflict kept oil prices high, with Brent crude trading near $88 per barrel. The stronger dollar made gold more expensive for buyers using overseas currencies.

US inflation data came in below expectations, easing expectations of aggressive rate hikes by the US Federal Reserve.

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