Gold slides back closer to $4,050 as Iran risks and Fed hike bets boost USD

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Gold opened with a modest bearish gap at the start of the new week and slid back closer to the $4,050 level during the Asian session. The decline was driven by escalating Iran risks and increased bets on Federal Reserve interest rate hikes, which boosted the US dollar.

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⛏Gold Futures
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Increased Fed rate hike bets boost USD, pressuring gold prices.

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