Gold Prices Up on Rate Cut Expectations; Gains Capped by Rebound in U.S. Stocks
Gold costs picked up on Friday in Asia on rate cut desires, yet gains were topped by a bounce back in U.S. stocks.Gold prospects for August conveyance, exchanged on the Comex division of the New York Mercantile Exchange, were up 0.4% at $1,348.95 per ounce by 01:15 AM ET (05:15 GMT).
The U.S. Central bank is relied upon to keep rates unaltered at its gathering on June 19, however markets accept the probability of a rate cut before the year's end has expanded because of abating swelling and rising exchange pressures.
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