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News / Commodities / Gold Falls as Stronger US Dollar Dims Rate Cut Hopes

Gold Falls as Stronger US Dollar Dims Rate Cut Hopes

Published: 10.09.2024
Gold prices (XAU/USD) fell to $2,500.85 during Tuesday's Asian session as the US dollar strengthened, fueled by diminishing expectations of a 50-basis-point rate cut from the Federal Reserve.

Following last Friday's mixed US jobs report, investors have lowered their expectations for a significant rate cut, adding pressure to gold as the dollar gains momentum.

The USD Index (DXY), which tracks the dollar against a basket of major currencies, is nearing its monthly high from last week, further reducing the appeal of gold as a non-interest-bearing asset.
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