Gold rises on expectations of a milder Fed rate hike

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Gold rose in Friday’s trading session despite a rally in the dollar and US bond yields as investors were reassured by the possibility that the Fed would raise interest rates more slowly in the near future.

Spot gold rose 0.36% to $1,795.6329 an ounce while U.S. futures rose 0.37% to $1,808.10 an ounce.

Most current forecasts suggest the Fed will raise rates by 50 basis points when the final meeting of 2022 ends on December 14 after two days of negotiations.

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