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Gold rate today: Yellow metal drops marginally; silver too loses sheen.

Gold prices dropped on Thursday, hovering near two and a half year lows after the US Federal Reserve increased interest rates by another 75 basis points and flagged more hikes.

Fed Chair Jerome Powell vowed that he and his fellow policymakers would “keep at” their battle to beat down inflation, as the US central bank hiked interest rates by 75 basis points.

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