Daily Market Report
➢ Gold edges higher to around $3,350 amid rising Fed rate cut expectations.
➢ July US CPI came in line with forecasts; core CPI rose more than expected (3.1% YoY).
➢ Market now sees higher odds of a Fed rate cut in September and possibly again in October.
➢ Weaker US Dollar due to rate cut bets supports Gold prices.
➢ Lower interest rates reduce the opportunity cost of holding non-yielding assets like Gold.
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