Gold hits near 2-week high as soft US data lifts Fed rate-cut bets
By Brijesh Patel (Reuters) – Gold prices rose more than 1% to a near two-week high on Wednesday, driven by increased bets for a September interest rate cut by the Federal Reserve after recent U.S. data suggested that the labor market was softening. Spot gold was up 1.2% at $2,357.06 per ounce by 02:08 a.m. …
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