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Gold firms on rate-cut bets, US inflation data in focus
Gold prices rose on Wednesday, holding above the critical $3,600-per-ounce level, buoyed by expectations of a U.S. interest rate cut this month, while key inflation reports due this week were also on investors’ radar. Spot gold was up 0.5% at $3,644.54 per ounce, as of 0652 GMT, after hitting a record high of $3,673.95 on Tuesday. U.S. gold futures for December delivery were flat at $3,683. “Sentiment is really bullish. There are several major factors driving gold prices right now. The primary is U.S. rate cut expectations,” Capital.com financial market analyst Kyle Rodda said. “The near-term outlook depends ... (full story)
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