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Swaps markets are pricing in about an 85% chance of an interest rate cut by March. Lower yields and rates are usually bullish for non-interest bearing assets like gold. The precious metal has risen nearly 14% this year, on track for its first annual increase in three years.
Gold for delivery in February slipped on Thursday, settling at $2,083.50 an ounce, and looked set to experience more weakness in overnight trading.
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