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Local

Gold hits three-month high as Fed dampens rate hike expectations

LONDON (Feb 23): Gold prices hit a three-month high on Thursday after the minutes of the latest Federal Reserve policy meeting further dampened expectations of an interest rate hike in March, lowering US bond yields and stalling upward momentum in the dollar.

Spot gold was on track for its biggest daily gain since Feb 6, rising 0.9 percent by 1611 GMT to US$1,249.05 an ounce, its highest since Nov 11. US gold futures rose 1.3 percent to UA$1,250.       

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