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March 5 (Reuters) – Gold notched a document excessive on Tuesday, as merchants ramped up bets of a begin to interest-rate reduce by the U.S. Federal Reserve in June, with traders pouring cash into the safe-haven asset because the Center-East warfare drags on.
Spot gold XAU= climbed 1% to $2,136.69 per ounce by 1332 GMT. U.S. gold futures GCcv1 jumped 0.9% to $2,145.40 per ounce. Gold final hit a document excessive of $2,135.40 on Dec. 4.
Gold, which is usually sought as a protected retailer of worth in instances of financial turmoil, advantages from central financial institution easing because it pushes down bond yields and the greenback, making the metallic extra engaging.
(Reporting by Swati Verma in Bengaluru)
((Swati.Verma@thomsonreuters.com; +91 8894503862;))
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