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Diane Alter
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Why the Price of Gold Hit a 7-Week High Today
The price of gold hit a seven-week high today (Monday) as investors believe the U.S. Federal Reserve will delay its first interest rate hike in nearly a decade until sometime in 2016.
The price of gold was up $10.40 at $1,166.20 an ounce in New York trading Monday morning. It hit an intraday high of $1,169.00 earlier in the session.
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