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Gold prices set another record on Monday ahead of this week’s Federal Reserve meeting, during which the US central bank will assess its monetary policy for the first time in over four years.
Bullion’s latest rally, which extends from last week, precedes the Fed’s Sept. 17-18 meeting that’s widely expected to result in a rate cut of at least 25 basis points. “Whether the Fed cuts by 25 or 50 bps does matter in the short term,” said Ole Hansen, head of commodities strategy at Saxo Bank A/S,
The precious metal was also supported by a weaker US dollar, which fell after an apparent assassination attempt against former President Donald Trump.
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