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Gold rises on hopes for Fed rate cut in June, softer US dollar
Gold prices rose on Monday as renewed bets that the U.S. Federal Reserve would begin cutting interest rates in June and a softer dollar lifted bullion’s appeal. Spot gold was up 0.4% at $2,172.09 per ounce, as of 0350 GMT. U.S. gold futures climbed 0.6% to $2,173.40 per ounce. The dollar was down 0.1% against its rivals, making gold less expensive for other currency holders. “The environment is still looking quite healthy for the precious metal markets,” said Tim Waterer, chief market analyst at KCM Trade. “Markets are still looking forward to impending rate cuts from the Fed. Looks like June is being the ... (full story)