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Gold holds gains as rising oil supply, falling yields ease Fed hike pressure
Gold held gains, trading around $4,165 an ounce after rising 0.6% the day before. This comes as increasing oil supplies from the Middle East and a decline in bond yields eased pressure on the US Federal Reserve to hike interest rates this month. Shell Plc CEO Wael Sawan stated on Tuesday that oil flows from the region are at approximately 80% of pre-conflict volumes.
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