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Gold Holds Decline on Easing Mid-East Tensions

Gold hovered around $2,620 per ounce on Tuesday after slumping 3.4% in the previous session as reports that Israel and Hezbollah are nearing a ceasefire agreement lowered demand for safe-haven assets.

The precious metal was also hit by a rising US dollar after President-elect Donald Trump announced plans to impose a 25% tariff on all imports from Mexico and Canada starting his first day in office, along with an additional 10% tariff on goods from China.