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XAU/USD Analysis Today 15/10: Gold Hits Record Highs (Chart)
(MENAFN- Daily Forex)
- Gold prices surged to around $2,685 per ounce today, Thursday, trading at record highs, as dovish expectations from major global central banks and a slight decline in bond yields boosted demand for the non-yielding bullion.
- The Federal Reserve is expected to cut US interest rates in its remaining decisions this year, with a 25-basis point cut in November becoming increasingly likely.
- Meanwhile, the European Central Bank is expected to implement another rate cut today, Thursday, while falling UK inflation indicates the possibility of a rate cut by the Bank of England next month.
- Many major central banks in Asia have also recently cut interest rates.

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