Gold hovers near $3,700 as Fed rate cut bets and weaker dollar drive demand

Gold edged up to fresh highs on Tuesday as investors continued to bet on a September rate cut from the Federal Reserve and the dollar stayed weak. Gold (GC=F) futures touched an intraday high north of $3,700 per troy ounce before paring gains, while spot prices climbed above $3,650. The moves came as revised US jobs data highlighted a labor market slowdown, with investors holding firm on a 25-basis-point cut while awaiting this week’s inflation report. "If inflation comes in 'softer,' the easing narrat ...