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Gold near 8-week high on bets US rate hikes nearly over
Gold prices on Wednesday were near eight-week highs reached in the previous session after economic data raised expectations that the U.S. Federal Reserve is near the end of its interest rate hiking. Spot gold eased 0.2% at $1,973.69 per ounce by 1200 GMT, slightly pressured as the U.S. dollar bounced back from 15-month lows. U.S. gold futures also fell 0.2% to $1,977.30 per ounce. Prices hit their highest since May 24 at $1,984.19 before settling about 1.2% higher on Tuesday. The outlook for next week’s Fed meeting has not changed, but the latest jobs data and inflation figures have begun to anticipate rates could ... (full story)