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Gold prices hover around the US $1950

International gold prices have been holding steady around the $1950 mark with fluctuations, however still remaining with in a range.

Expectations of further rate hikes from the US Federal Reserve have been keeping prices in check. Moreover, supportive data such as the Consumer Price Index (CPI), weekly jobless claims, and industrial production have helped sustain the current price range.

This week, investors will closely monitor key data points including the monetary policy meeting of the Bank of England, the testimony of US Fed Chair Powell, and an anticipated rate cut by China on Tuesday.

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