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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Gold prices faced ongoing declines driven by rising bond yields and a stronger US dollar as traders revived bets on Federal Reserve interest rate hikes. OCBC noted that the gold uptrend is delayed as markets reprice expectations toward a more hawkish monetary policy. Expectations for a Fed rate hike have climbed above 70%, maintaining significant downward pressure on gold prices.