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US gold rallies as US Fed keeps rates unchanged

Gold’s rallied more than 1.30% as traders brace for Powell’s press conference.Federal Reserve officials voted unanimously and expect at least three rate cuts for 2024.XAU/USD hits a three-day high, eyeing more gains above $2000.

Gold price advanced sharply late in the New York session after the Federal Reserve decided to keep rates unchanged, opening the door for monetary policy easing next year. Buyers saw that as a green light to open fresh positions, as XAU/USD has climbed more than 1.80%, trading at around the $2000-$2020 range at the time of writing

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