Gold remains near a record high on optimism about US rate cuts

Gold prices held close to record highs as growing optimism around a U.S. interest rate cut bolstered the metal’s allure. Spot gold edged lower, just shy of all-time high. Meanwhile, U.S. gold futures inched up. The potential for an interest rate cut by the Federal Reserve has been driving demand for gold. Traders are increasingly confident that a rate reduction is on the horizon. The prospect of lower interest rates typically makes non-yielding assets like gold more attractive.

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