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Tuesday May 07, 2024

Gold prices firm

By our correspondents
September 07, 2016

Singapore

Gold held steady early on Tuesday after rising slightly in the previous session on expectations that the U.S. Federal Reserve will not raise rates in September.  Spot gold was nearly flat at $1,326.02 per ounce by 0101 GMT.

The metal rose 0.1 percent on Monday. U.S. gold futures were up slightly at $1,329.70.

The U.S. Labor Day holiday kept volumes subdued on Monday, but new U.S. data releases and any speeches from Fed officials will be watched closely for clues to the timing of any rate moves.

Republican presidential nominee Donald Trump, who has previously accused the Federal Reserve of keeping interest rates low to help President Barack Obama, said on Monday that the U.S. central bank has created a "false economy" and that interest rates
should change.