US economic data cooling boosts rate cut expectations, gold price continues to rise
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US economic data cools, boosting rate cut expectations, gold price continues to rise. Both gold and silver prices rose this week, while the US service sector contracted and the job market softened, with the non-farm payroll report expected to show a slowdown in hiring and wage growth. Economic slowdown may prompt the Federal Reserve to lower borrowing costs, which is favorable for gold. Gold prices continued to rise this week, extending the upward trend for three consecutive quarters
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