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Hawkish Fed Keeps Pressure on Gold Though Prices Halt Their Slide

October 10, 2023 at 15:38 PM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

Expectations that the U.S. Federal Reserve will keep benchmark interest rates in the country higher are putting increased pressure on gold prices. Although gold prices stopped their decline last week, pressure from a hawkish Fed has kept prices at a seven-month low as investor interest in the precious metal reduced.

Spot gold prices went up by only 0.1% to $1,824.79 an ounce at noon last Wednesday, ending a seven-day decline that had seen gold prices drop by…

NOTE TO INVESTORS: The latest news and updates relating to Eloro Resources Ltd. (TSX: ELO) (OTCQX: ELRRF) are available in the company’s newsroom at http://ibn.fm/ELRRF

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