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Gold Rebounds To 2-Week Peak As U.S. Data Boosts Fed Rate Cut Hopes

TedTed
in The Bullpen
FYI: Gold shook off headwinds from a stronger dollar to scale a near two-week peak on Thursday as data pointed to easing inflationary pressure in the United States, boosting expectations of a further interest rate cut by the Federal Reserve.

Spot gold gained 0.6% to $1,287.03 per ounce by 11:52 a.m. ET (1552 GMT), having hit a high of $1,288.87 earlier, its highest since May 17.
Regards,
Ted
https://www.reuters.com/article/global-precious/precious-gold-rebounds-to-2-week-peak-as-u-s-data-boosts-fed-rate-cut-hopes-idUSL4N2363Y0
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