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531 Gold prices decline as U.S. dollar strengthens

KillerStartups
Maya Johnson @ KillerStartups · 05/31/2024 10:57 EDT

Gold prices decline as U.S. dollar strengthens

The cost of gold continues to decrease due to a strengthening U.S. dollar and escalating concerns over interest rates. The enhanced value of the U.S. currency applies further pressure on gold prices. This situation is exacerbated by the investors’ apprehension about rising interest rates. The U.S. dollar recently recorded its best value in over two weeks. This surge is primarily due to the Federal Reserve’s strong stance on inflation control.
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