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Gold rises amid bets on Fed pause in June, debt ceiling in focus
Gold prices rose on Thursday, extending a recovery from two-month lows amid resurgent bets that the Federal Reserve will hold interest rates steady in June, while a bill to raise the U.S. debt ceiling drew closer towards passing after being approved by the House of Representatives. Philadelphia Fed President Patrick Harker said on Wednesday that skipping a rate hike during the June 14 meeting could allow the bank more time to consider future rate decisions. While Harker specified that the Fed could still raise rates after June, his comments triggered a sharp jump in bets for a June pause- a reversal from the earlier ... (full story)