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Gold continued its losing streak in June, posting a fourth consecutive month in the red as expectations of a Federal Reserve rate hike and uncertainty in the Middle East weighed on prices. Nevertheless, new data showed that demand from central banks remained strong.
The metal price fell by 11.7% in June after dropping by 1.8% in May. At the same time, World Gold Council data showed that central banks bought net 41 tonnes of gold in May, led by Poland and China.