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April 22 - Gold prices dropped more than 2% to a one-week low on Monday as worries over a wider Middle East conflict subsided, prompting investors to scale back safe-haven trades in favour of riskier assets like equities.
Tehran downplayed Israel's retaliatory drone strike against Iran, in what appeared to be a move aimed at averting regional escalation. Investors are now waiting for the release on Friday of the U.S. personal consumption expenditures report for cues on the prospect of U.S. interest rate cuts.
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