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Gold Price Hits 2,000 USD

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Gold prices rose to an over two-week high on Tuesday, passed  2000  USD mark as the U.S. dollar dipped on expectations that the Federal Reserve is done hiking interest rates, while investors awaited minutes from the central bank’s latest meeting for further policy cues.

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Expectations of a dovish Fed in 2024 have triggered a decline in the U.S. dollar, helping gold recover from recent lows, said Carlo Alberto De Casa, market analyst at Kinesis Money.

The dollar fell to more than a 2-1/2-month low, making gold less expensive for other currency holders. Meanwhile, the benchmark U.S. 10-year Treasury yields hovered near two-month lows touched last week.

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Source World Gold Council

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