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Gold gains on prospects of Fed rate cuts next year

From nasdaq.com

Gold prices inched higher in holiday-thinned trade on Tuesday, helped by a weaker U.S. dollar and lower bond yields on rising prospects of interest rate cuts by the Federal Reserve as early as March next year. * Spot gold XAU= was up 0.2% at $2,056.80 per ounce, as of 0118 GMT. * U.S. gold futures GCcv1 were steady at $2,068.60 per ounce. * The dollar index .DXY fell 0.1%, making gold more attractive for other currency holders, while benchmark U.S. 10-year bond yields US10YT=RR edged lower to 3.8913%. US/ * Data on Friday showed that U.S. prices fell in November for the first time in more than 3-1/2 years, pushing ... (full story)

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  • Category: Fundamental Analysis