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Saudi Press Agency: Spot gold falls 2.1% to $4,051.50

In a later report, the Saudi Press Agency said spot gold had fallen 2.1% to $4,051.50 an ounce. It linked the drop to US inflation data coming in above expectations, which lifted the dollar and Treasury yields while strengthening expectations of a larger Federal Reserve rate increase. Separately, December gold futures fell 1.34% to $4,059.30.

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