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Gold prices decreased by 0.6% to $2,619.33 per ounce as elevated U.S. Treasury yields reduced bullion's appeal during a lean holiday week. The markets focus remains on President-elect Trump's return and the potential influence of his inflationary policies on the Feds outlook for 2025.
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The Japanese yen strengthened against the dollar following hints of a potential rate hike by the Bank of Japan. The central bank also reduced its monthly bond purchases. Traders are cautious due to U.S. economic policies and inflation concerns. Japan's Finance Minister reiterated concerns over the sliding yen, hinting at possible intervention to stabilize the currency.
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Wall Street saw a broad-based sell-off Friday, ending the Dow's five-session winning streak, with significant declines in tech and growth stocks. Higher U.S. Treasury yields and profit-taking contributed to the declines, affecting even top performers. Despite this, all three indexes posted weekly gains.
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