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Gold climbs on hopes for sizeable Fed rate cuts this year
Gold prices rose on Thursday as investors held on to hopes that the Federal Reserve would cut interest rates by a significant amount this year, even after the U.S. central bank pushed back against the idea of a cut in March. * Spot gold rose 0.4% to $2,045.65 per ounce by 0213 GMT. On Wednesday, bullion touched a more than two-week high of $2,055.89 before paring gains to end the session 0.1% higher. * U.S. gold futures fell 0.2% to $2,063.20. * The Fed left interest rates unchanged and knocked down the idea that the U.S. central bank could cut rates in the spring. * The Fed dropped a longstanding reference to ... (full story)