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Gold Price Today: Why Gold Plummets for Second Day Despite War; Latest Rates & Market Analysis
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Gold Plummets Second Day Despite War: Strong Dollar, Rate Cut Doubts Drive Fall
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CNBC Awaaz
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12-03-2026, 09:18
Gold Plummets Second Day Despite War: Strong Dollar, Rate Cut Doubts Drive Fall
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Gold prices fell for the second consecutive day, dropping below $5,200 per ounce, while silver saw a slight gain.
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A strengthening US dollar made dollar-denominated gold more expensive for investors holding other currencies.
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Reduced expectations for Federal Reserve rate cuts, fueled by rising oil prices and inflation concerns, diminished gold's appeal.
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February's core inflation data met expectations, but the likelihood of a Fed rate cut by March has decreased significantly.
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Experts suggest gold is consolidating between $5,000-$5,300, warning of further declines if $5,000-$5,100 support breaks.
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