Gold Extends its Drop as Traders Await Fed Meeting

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As Friday trading got underway, gold extended its losses from the previous trading session amid concerns that energy-fueled inflation was likely to up the odds of an interest rate hike by the Federal Reserve in the last quarter of the year.

Players in the precious metals ecosystem like Numa Numa Resources Inc. will be hoping economic and geopolitical conditions improve and gold regains its footing because once gold’s price stagnates or even retreats significantly, exploration and mining…

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