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GOLD SET FOR THIRD WEEKLY GAIN ON FED RATE CUT HOPES

Published on Jan 17, 2025 15:27

Gold slipped below $2,735 per ounce in Asian trading but is set for a third straight weekly rise, gaining about 1% so far. The rally has been driven by a weaker U.S. dollar and renewed expectations for Federal Reserve rate cuts, following softer inflation and weak retail sales data. Fed Governor Christopher Waller�s remarks on possible multiple rate cuts boosted the non-yielding metal�s appeal. Meanwhile, easing geopolitical tensions, including a ceasefire agreement between Israel and Hamas, tempered demand for safe-haven assets.

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