Gold prices fall in spot trades

Gold prices today declined to their lowest level in approximately two weeks, following remarks by the US Federal Reserve Chairman Kevin Warsh, where he indicated that raising interest rates may be necessary to curb inflationary pressures. The spot price decreased by 0.8% to reach $4,417.04 per ounce, while futures contracts dropped by 1.4% to $4,466.80. This decline is attributed to the prospects of tightening monetary policy in the United States to control inflation.

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