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Gold hovers near all-time high on Fed rate-cut bets, US shutdown
Gold prices held steady on Thursday, hovering near the record high hit the day before, helped by expectations of further U.S. rate cuts and political uncertainty. Spot gold held its ground at $3,866.05 per ounce, as of 0357 GMT, after hitting an all-time high of $3,895.09 on Wednesday. U.S. gold futures for December delivery eased 0.2% to $3,891.40. “Weak ADP employment data ahead of non-farm payrolls report has revived Fed-cut bets to weaken the US dollar. Gold has also been given a bump from the U.S. government shutdown,” City Index senior analyst Matt Simpson said. “Futures market positioning continues to ... (full story)