India, June 23 -- Increasing expectations about rate hikes by the Federal Reserve boosted the U.S. dollar and dampened the yellow metal in trading trends early on Tuesday.
The rise in interest rate expectations comes amidst an uptick in crude oil prices. Brent crude futures for September settlement are currently trading at $77.54, having edged up 0.03 percent from the previous day's close. WTI crude futures for August settlement have also gained 0.08 percent in the day's trading and is currently hovering near $73.92.
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