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Spot gold held steady at $1,998.50 per ounce by 0724 GMT, trading in a $9 range, while U.S. gold futures ticked 0.1% higher to $2,007.40 per ounce. ....
Although gold is traditionally known as a hedge against inflation and economic uncertainties, higher interest rates tend to dim the bullion's appeal as it increases the opportunity cost of holding the non-yielding metal. ....