Gold steadies as bargain hunters see off dollar’s advance

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Gold steadied on Monday as bargain hunting offset pressure from the dollar’s advance following the U.S. Federal Reserve’s signs that it was not softening its fight against inflation.

Spot gold rose 0.05% to $1,771.82 per ounce by 4:00 p.m. ET after falling 1% earlier in the day. U.S. gold futures settled up 0.34% at $1,775.2.

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