Gold prices hovered close to record territory on Monday, supported by mounting expectations that the U.S. Federal Reserve will cut interest rates this month, following weaker-than-expected labor market data.
Gold prices slipped on Wednesday under pressure a stronger U.S. dollar, while political tensions surrounding the Federal Reserve helped prevent sharper losses.
Gold prices moved within a narrow range on Thursday as investors awaited clearer signals on the U.S. Federal Reserves policy outlook ahead of the Jackson Hole Symposium in Wyoming, running August 21 to 23.
Gold prices rebounded on Thursday after hitting a one-month low in the previous session, as renewed trade tensions and uncertainty triggered a fresh wave of demand for safe-haven assets.
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