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18.09.202600:36:01UTC+00Gold Holds Gains on Lower Oil Prices

Gold hovered around $4,350 an ounce on Friday after gaining nearly 2% in the previous session, supported by a drop in oil prices that eased inflation concerns and helped drive bond yields lower. Crude declined for a third straight session as Saudi Arabia moved to restore flows through its East-West pipeline, while President Donald Trump is scheduled to meet with Gulf leaders next week. US Treasury yields also retreated from multi-year highs, with the 10-year yield slipping to around 4.93% after briefly topping 5% earlier in the week. At the same time, investors continued to evaluate the Federal Reserve’s policy outlook following its first interest rate increase in three years. The US central bank indicated that further tightening may be required to contain inflationary pressures, and markets are now pricing in roughly a 53% chance of another move in October.

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