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Gold Tops $3,700 as Traders Gear Up for Fed Meeting
- Gold reached a new record high of over $3,700 an ounce, fueled by expectations of a Federal Reserve rate cut and a weaker US dollar.
- The Federal Reserve will update its economic forecasts and Chair Jerome Powell will hold a press conference after the rate decision.
- Gold has surged more than 40% this year, helped by weak labor data and central bank purchases.
- Goldman Sachs Group Inc. predicts that gold could approach $5,000 an ounce if 1% of privately-held Treasuries are invested in gold.
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28 Articles
28 Articles
The precious metal surpassed $3,700 an ounce for the first time, boosted by expectations of a Fed rate cut, Trump pressure and central bank purchases.
Gold Tops $3,700 as Traders Gear Up for Fed Meeting
Gold prices hit a fresh record high, reaching $3,704.10 a troy ounce as investors expect the Federal Reserve to cut interest rates for the first time since December later this week. "Hopes remain high that the Fed will burnish their dovish credentials and signal multiple rate cuts in the coming mon
·New York, United States
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Total News Sources28
Leaning Left1Leaning Right4Center1Last UpdatedBias Distribution67% Right
Bias Distribution
- 67% of the sources lean Right
67% Right
L 17%
C 17%
R 67%
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