Gold hovers near record high on US rate-cut prospects


Gold held firm near an all-time high on Monday, inching closer to a key $3,600 level, bolstered by mounting expectations of a U.S. Federal Reserve rate cut this month following a weaker-than-expected jobs report last week.

Spot gold was up 0.2% at $3,593.79 per ounce, as of 0641 GMT. Bullion rose to a record high of $3,599.89 on Friday.

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