Analysts: Easing tensions in Iran and diminished expectations of interest rate cuts led to a slight decline in gold prices.
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According to ME News, on January 16 (UTC+8), gold prices continued their decline on Friday as better-than-expected US economic data reduced market expectations for an earlier interest rate cut by the Federal Reserve, and easing geopolitical tensions reduced demand for safe-haven assets. Kyle Rodda, an analyst at Capital.com, stated, "The decline in gold prices is mainly due to the reduced likelihood of US intervention in the social unrest in Iran… and the data we have from the US suggests that there is currently no urgent need to lower interest rates." (Source: ME)
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