Gold is at a 13-month high and eyeing a new record as investors see limited Fed tightening ahead
prices moved toward a 13-month high Wednesday on the heels of data showing a labor-market slowdown.
The new data released over the past two days has shown a cooling labor market, which investors are taking as a signal the Federal Reserve's rate hikes are working, something that could lead to a less aggressive pace of future rate hikes. Since gold has historically weakened during periods of tightening, the expected easing has been a boon for the commodity.has also contributed, as nervous investors have fled to safe havens like gold.
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