Gold prices flat as firm dollar dents appeal

Production at U.S. factories unexpectedly fell in May, the latest sign of cooling economic activity as the Federal Reserve aggressively tightens monetary policy to tame inflation. European Central Bank policymaker Klaas Knot said on Friday the ECB may need to make several 50 basis point rate hikes if inflation continues to rise and that he expected about 200 basis points of hikes.

from Commodities-Markets-Economic Times
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