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GOLD: Intraday Analysis & Forecast update

Gold prices fell for a third straight session on Thursday after minutes from the most recent Federal Reserve meeting indicated that some officials were inclined to raise interest rates. While the policy response for now would “involve maintaining” interest rates at current levels, minutes of the Fed’s latest meeting released on Wednesday also reflected discussions of possible hikes.

“Gold did take a bruising after the Fed minutes reminded investors that interest rate cuts are far from imminent,” said Tim Waterer, chief market analyst at KCM Trade.

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