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Gold prices rise as oil softens and Fed rate hike looms

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Gold prices saw a modest increase on Monday, supported by a decline in oil prices. Investors are closely monitoring the possibility of a Federal Reserve interest rate hike later this year, along with any new signals regarding the central bank's policy direction.

Spot gold climbed 0.3% to $4,175.60 per ounce by 0259 GMT, while US gold futures for December delivery rose 0.4% to $4,196.40.

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