Gold price (XAU/USD) extends the rally to near $4,230 during the early Asian trading hours on Tuesday. The precious metal edges higher to a near six-week high amid growing expectations of US interest rate cuts. The US Manufacturing Purchasing Managers Index (PMI) contracted for the ninth straight month in November, the Institute for Supply Management (ISM) showed on Monday. The Manufacturing PMI declined to 48.2 in November, versus 48.7 prior, below the estimation of 48.6. Following softer US economic data, traders have increased December rate-cut bets to an 87% chance, according to the CME FedWatch tool. Lower ... (full story)