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Fed & yields

Gold Heads for Monthly Low After Fed Meeting Dampens Rate Cut Hopes

Gold Heads for Monthly Low After Fed Meeting Dampens Rate Cut Hopes

Gold prices dropped 2.5% this week, heading for their worst weekly performance in over a month.

The decline came after the Federal Reserve signaled fewer interest rate cuts ahead and as tensions between Israel and Iran appeared to ease temporarily.

President Trump said he’ll decide within two weeks whether the U.S. will intervene in the conflict.

The stronger dollar and profit-taking by traders also contributed to gold’s pullback from recent highs.

Eight more from the desk

Other dispatches from the bullion wire.