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Gold rises after Fed rate cut, but pares gains on cash hunt

Gold rises after Fed rate cut, but pares gains on cash hunt

Monday, March 16, 2020, 3:55 PM

Gold prices jumped in early trade on Monday after another emergency rate cut by the US Federal Reserve, before paring gains as some investors sold the metal for cash amid a sell-off in equities. Spot gold was up 0.9 per cent at $1,543.60 per ounce by 0248 GMT, having risen as much as 2.8 per cent earlier.
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