Gold rebounds after two-month low amid U.S. rate outlook

Gold prices rose slightly after hitting their two-month low, with the spot price reaching $4,127.40 per ounce and December futures at $4,150.60. Markets continue to watch the direction of U.S. interest rates. The Federal Reserve meeting minutes revealed divisions among policymakers regarding the need to raise interest rates. Traders currently see only an 18% chance of a rate hike in September, compared to an 80% probability in December, as higher interest rates negatively impact the appeal of non-yielding gold.

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