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The price of gold rose on Monday after the sharp decline recorded in the previous session, with metal backing the Middle East's strains and weaker financial markets, but the rising dollar is holding back gains.
Gold spot prices rose 0.2% to $ 1427.88 an ounce. The metal hit $ 1452.60 in the previous session, its highest level since May 2013, before closing down 1.5%.
US futures on gold rose 0.1% to $ 1428.30 an ounce.
Iran's Revolutionary Guards reported seizing a British-flagged tanker in the Gulf after Britain seized an Iranian ship earlier this month, reinforcing tensions on an essential international shipping route.
At the same time, Asian stock markets fell on Monday, as investors canceled expectations of a mbadive rate cut by the Federal Reserve.
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