Gold slips over 1 percent on strong dollar, easing rate-cut bets

Gold prices fell more than 1 percent on Thursday, pressured by a stronger dollar and diminishing hopes for a reduction in borrowing costs as the ongoing Iran war stoked inflation concerns.Spot gold dipped 1.1 percent at $5,118.16 per ounce by 1:31 p.m. ET (1731 GMT). US gold futures for April delivery settled 1 percent lower at $5,125.80.The dollar gained for a third consecutive session.

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