Gold gains as Fed rate cut bets boost appeal

News Snapshot:

Gold prices gained in holiday-shortened trade on Tuesday, as the US dollar and bond yields fell on rising expectations that the Federal Reserve may lower interest rates as early as March of next year. As of 0401 GMT, spot gold was up 0.5 per cent at $2,063.78 per ounce, having achieved a more than two-week high of $2,070.39 the previous session. Gold futures in the United States climbed 0.3 per cent to $2,074.90 per ounce. “Gold prices have resumed their upside into the new week, after receiving the go-ahead from softer-than-expected U.S. personal consumption expenditure data last Friday, which validates...