
“Gold prices surged past $3,700 a troy ounce on Tuesday, hitting a fresh record high amid a weaker U.S. dollar and firm expectations that the Federal Reserve will cut interest rates. Futures rise 0.1% to $3,722 an ounce, after hitting $3,739.90 an ounce in intraday trading earlier. “Should the central bank’s guidance fall short of dovish market expectations, gold could face near-term selling pressure,” says Eric Chia, strategist at brokerage Exness. “However, any confirmation of multiple cuts would strengthen its rally, potentially leading to new highs.” The rally is also supported by central-bank buying, ETFs inflows and geopolitical tensions contributing to growing demand for safe-haven and inflation-hedging assets.”
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