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Gold gains as rate hike fears subside
Gold prices rose today, Wednesday, supported by a decline in expectations for the Federal Reserve's interest rate hikes. December futures reached $4,448.70 per ounce, while spot prices increased to $4,389.81, hitting a 10-week high. The rise is attributed to investors lowering their expectations for future rate increases, as the likelihood of a rate hike in September 2026 decreased from 60% to 50% following the release of weak US jobs data. This development boosted demand for gold as a safe haven.
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