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Gold rises on Fed rate cut hopes, Middle East tensions
Gold prices ticked higher on Monday, as expectations that the Federal Reserve will start cutting interest rates later in the year and tensions in the Middle East lifted bullion’s appeal. Spot gold rose 0.3% to $2,309.24 per ounce by 0427 GMT. US gold futures gained 0.5% to $2,318.80 per ounce. “Investors will look at the political situation in the Middle East and how the ongoing negotiations for a ceasefire play out. If the hopes of a truce become lesser, gold will gain,” said Kelvin Wong, a senior market analyst for Asia Pacific at OANDA. Prospects for a Gaza ceasefire appeared slim on Sunday as Hamas ... (full story)