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Looming Fed rate cuts fuel gold price bonanza to records
Gold's latest rally, triggered by expectations of U.S. rate cuts, concerns about Federal Reserve independence and strong demand from investors as well as the central bank, is likely to propel prices to new records in the coming weeks. Analysts see spot gold, which hit a record high of $3,527.5 as of 1700 GMT on Tuesday, in a $3,600-$3,900 range in the near to medium term, with potential to test the $4,000 level in 2026 if economic and geopolitical uncertainties persist. Gold has gained more than 34% this year and analysts have steadily raised their average 2025 price outlook from $2,756 an ounce in January to $3,065 ... (full story)