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Gold Bulls Look Beyond Fed as Growth Slows, Recession Risks Rise

From bnnbloomberg.ca

Gold bulls are betting there’s more to the metal’s rally than rates. Bullion is on its way to a third straight monthly gain, trading near a six-year high as central banks signal easier monetary policy. The Federal Reserve is expected to cut U.S. interest rates by a quarter percentage point on Wednesday. Gold analysts and traders are looking for affirmation from Fed Chairman Jerome Powell that further rate reductions are in store to justify the run-up, with some saying the precious metal may have gotten ahead of itself. “The market can easily pull back in the wake of a cut without the overall gold rally being altered, ... (full story)

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  • Category: Fundamental Analysis