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Gold steadies as traders weigh Mideast tensions, US dollar moves

Investors bet the metal will gain as it rediscovers its traditional value as a portfolio hedge

  • Gold hovered around US$4,400 per ounce Monday amid Middle East tensions and a weaker US dollar.
  • Escalating US-Iran conflict in the Strait of Hormuz boosted oil prices and inflation concerns.
  • Spot gold rose 0.1% to US$4,409.68 at 7:18 am Singapore time.

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