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Analysts believe that the U.S. dollar will hit a new high after consolidating for most of the year, influenced by the U.S. President-elect’s support for infrastructure spending and tax cuts, as well as the increased possibility of an annual interest rate hike. Markets are now betting that the Fed will raise interest rates faster.
On Friday, gold holdings of the world's largest gold-backed exchange-traded fund
dr fell.
Huitong Finance data showed that spot gold hit its lowest level of .USD since March, falling .% to .USD. It will record the largest three-day decline since March. Silver prices fell .%, to their lowest level since January .USD, tracking the decline in gold prices.
Among other precious metals
, palladium
rose sharply by .% last week and rose again by .% on Monday to US$.00 per ounce.
Platinum
fell .% to $.USD, hitting its lowest intraday low since the end of the month.
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