Gold stays under pressure amid US-Iran escalation and increase in rate hike bets

FUNDAMENTAL OVERVIEW Gold continues to erase the NFP gains as traders await the US CPI report. Moreover, we got an escalation in the Middle East as the US launched a series of strikes on Iran in response to Iranian attacks on three vessels in the Strait of Hormuz. Iran retaliated by bombing US bases in Bahrain and Kuwait, warning of further strikes if the U…

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