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Home » Gold hits near 2-week high as soft US data lifts Fed rate-cut bets

Gold hits near 2-week high as soft US data lifts Fed rate-cut bets

• US service sector sags in June as orders sink

• US weekly jobless claims rise as labor market slows

• Dollar hits two-week low

• US nonfarm payrolls report due on Friday

Gold prices rose more than 2% to a near two-week high on Friday, 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 $2,382.06 per ounce by end of 05th July 2024.

What Next week ?Further more gain can expected. Can reach USD 2400 mark again withn next week.

Published by GOLDCeylon | GOLD NEWS | 05.07.2024

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