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Gold Rises on Renewed U.S. Rate-Cut Bets
Gold prices were rising on growing expectations that the Federal Reserve will cut interest rates further this year and as investors await key U.S. data this week.
Futures in New York gained 0.5% to $4,107.30 a troy ounce, while spot was up 1.7% to $4,133.98 an ounce.
Traders are pricing in a nearly 81% chance of a December rate cut after Fed Governor Christopher Waller endorsed a rate reduction, citing a soft labor market and slowing inflation.
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