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Gold prices rose by nearly 1.5% to a two-month high on Friday as disappointing US factory data and a drop in consumer sentiment reinforced bets on the possibility of interest rate cuts later in the year.A measure of US factory activity shrank at a faster pace in February as orders, production and employment contracted, suggesting manufacturing is struggling for momentum, new data showed.
Signs of a softening economy solidified expectations that the Federal Reserve will need to lower borrowing costs to help shore up the economy.
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