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13.03.202600:49:55UTC+00Gold Firms After Two-Day Fall

Gold prices climbed to around $5,110 per ounce on Friday, rebounding after a two‑day decline, as markets weighed the geopolitical risk premium against the inflationary impact of surging oil prices. The move came on the 13th day of the war, with US President Donald Trump and Iran’s new supreme leader, Mojtaba Khamenei, adopting sharply defiant stances. Trump argued that preventing Iran from obtaining nuclear weapons and threatening stability in the Middle East takes precedence over concerns about higher oil prices, while Khamenei vowed to keep the Strait of Hormuz effectively closed and warned that Tehran could open additional fronts if US and Israeli attacks continue. These developments have driven energy prices higher, intensifying inflation fears and reducing expectations for Federal Reserve rate cuts. Markets are now pricing in virtually no chance of a reduction at next week’s meeting and only about a 70% probability of a cut later this year. Gold remains on track for a second consecutive weekly loss.

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