Gold inches lower as traders rethink early rate cut bets
Mon, Feb 5, 2024 11:59 AM

Gold inches lower as traders rethink early rate cut bets

A Flip by Avya Verma
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On Monday, gold prices dipped as the dollar and Treasury yields rose following a strong U.S. jobs report, dampening hopes for early interest rate cuts from the Federal Reserve. Fed Chair Jerome Powell reaffirmed that inflation is expected to hit the central bank's target, but traders are still pricing in rate cuts for 2024. Investors are also watching for remarks from Fed speakers this week.

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