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Gold prices mount to fresh record highs for second straight session
Gold prices rose on Monday to a fresh record high while the dollar inched up against most main rivals. Atlanta Fed President Raphael Bostic said the US GDP continues to slow down, which would drag inflation down, however he expects only one rate cut this year. Fed Chair Jerome Powell said last week that he expects US inflation to slow down in upcoming months, which would be a positive sign for markets as investors wait for rate cuts. Fed Deputy Chair Philip Jefferson said that the recent slowdown in inflationary pressures is encouraging, but it remains too early to determine whether inflation is sustainably backing ... (full story)