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Gold slides to multi-month lows on Fed rate fears

Original: gold price

Gold prices have fallen to their lowest levels in three and a half months, dropping below $4,000 an ounce and heading for a monthly loss. Traders are weighing the risk of further Federal Reserve rate hikes against Middle East tensions, with some analysts arguing the selloff is only delaying a longer-term rally toward $5,000, while others warn the technical breakdown could drive prices lower still.

Why now: Gold's sharp break below key levels amid Fed uncertainty is prompting heavy trading and debate about whether the rally is over.

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