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23 Sept 2026 · 14:00 GMT+3

Gold slides as strong US PMI data gives Fed room to raise rates again

Gold (XAU/USD) trades on the back foot on Wednesday as expectations of further Federal Reserve (Fed) interest rate hikes lift the US Dollar (USD) and weigh on the non-yielding metal. At the time of writing, XAU/USD trades around $4,281 during American trading hours, down 1.75% on the day.

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