Gold Gained As Expectations Of A Rate Cut Later This Month Weighed

Gold trading range for the day is 34765-35387.

Gold gained as expectations of a rate cut later this month weighed on the dollar and prompted investors to seek the safe haven commodity.

The International Monetary Fund said the greenback was overvalued by 6% to 12%, based on near-term economic fundamentals.

U.S. interest rates futures implied traders fully expect the Fed to cut rates at its upcoming policy meeting on July 30-31 with a 35% chance for a half-point decrease.

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