Bengaluru — Gold eased on Friday as investors booked profits after prices raced past $1,450 an ounce to hit a six-year peak, but Middle East tensions and prospects for lower interest rates kept bullion on track for a second week of gains.
“However, gold is still looking good. The interest rates and dollar environment, uncertainties over the US-China trade war and now the geopolitical situation being the icing on the cake; all of this has created a very supportive environment for gold.” Expectations that the US Federal Reserve will cut interest rates by at least 25 basis points at its policy meeting over July 30-31 have fueled gold’s momentum.
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