Gold prices hit a new high as expectations of a rate cut rose to 90%.
the price of gold rose on Monday, hitting a record high again, due to the weakening dollar and expectations that the Federal Reserve may continue to cut interest rates later this year. According to data observed by CME on the Federal Reserve, traders currently estimate a 90% chance of a rate cut in October and a 65% chance of a rate cut in December. Investors are waiting for U.S. job vacancy, private employment data, ISM manufacturing PMI, and Friday's non-farm employment report for further clues about the economic health. (Golden Finance)
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