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Gold Drops to The Red Zone

Adel 15 March, 2022 12:31 pm Commodities, Forex Market, Market Update

Gold prices fell below $1,980 an ounce on Monday, as traders braced for an upcoming Federal Reserve interest rate hike that pushed 10-year US Treasury yields above 2%.

The US central bank is widely expected to raise interest rates by 25 basis points at the end of its two-day meeting next Wednesday, to start the tightening cycle.

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