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⋅ Most investors expect the Federal Reserve to raise rates by 25 basis points (bps) at next week's policy meeting.
After four consecutive 75-basis-point rate hikes, the U.S. central bank slowed the pace of tightening to 50 basis points last month.
With lower interest rates translating into lower returns on interest-bearing assets such as government bonds, investors may prefer zero-yielding gold.
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