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Gold rises above $2,100 to highest level ever as traders bet on interest rate cuts
Gold futures settled at the highest level ever on Monday as traders bet the Federal Reserve will start cutting interest rates in the second half of the year. The gold contract for April gained $30.60, or 1.46%, to settle at $2,126.30 per ounce, the highest level dating back to the contract’s creation in 1974. It is the second consecutive trading session in a row in which gold has settled at a record, with the April contract closing at an all-time high of $2,095.70 on Friday. The VanEck Gold Miners ETF (GDX) closed higher by 4.3% and for its third consecutive day of gains. It’s also trading above the 50-day moving ... (full story)