25.07.2024 04:51 PM
Gold remains under strong selling pressure for the second consecutive day, continuing to lose ground and dropping to a two-week low. However, a combination of supportive factors is helping the commodity attract some buyers around the $2363-2364 zone, reducing part of the intraday losses. Expectations that the Federal Reserve will begin a rate-cutting cycle in September are preventing the US dollar from rising and providing a favorable condition for the non-yielding yellow metal. Additionally, risk aversion, indicated by a softer
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