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Gold slips further below $2,000 as markets temper Fed rate-cut bets

Wednesday, 14 February 2024 16:30 WIB GOLD EMAS Spot Emas Perak

Gold prices hit a fresh two-month low on Wednesday, sliding further below the key $2,000-per-ounce level, as a stronger-than-expected U.S. inflation report prompted traders to trim bets for deeper rate cuts by the Federal Reserve. Spot gold fell 0.2% to $1,988.05 per ounce (Oz), as of 0825 GMT, hitting its lowest since Dec. 13. Bullion fell about 1.4% on Tuesday in its biggest daily decline since Dec. 4. U.S. gold futures slipped 0.3% to $2,000.80/Oz. Gold came under pressure after the U.S. inflation report showed consumer prices rose more than expected in January, pushing back the projected timing of first Fed rate cut as well as the amount of cuts that were seen by year-end, said...

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