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Gold prices inch higher; all eyes on ECB meet
Gold prices edged higher on Wednesday, snapping a four-day losing streak on technical buying, while investors awaited European Central Bank’s meeting where it is widely expected to cut interest rates. Spot gold was up 0.3% at $1,490.09 per ounce, as of 0414 GMT. In the previous session, prices fell to their lowest since Aug. 13 at $1,483.90. U.S. gold futures were little changed at $1,498.8 an ounce. “The ECB is expected to reduce further the interest rate into negative territory... The meeting could serve as a potential catalyst (for gold) and investors are already buying into the rate cut expectations,” said ... (full story)