Gold price nears 7-month peak on hopes of smaller Fed rate hikes

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Gold price nears 7-month peak on hopes of smaller Fed rate hikes
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Gold price nears 7-month peak on hopes of smaller Fed rate hikes. gold fed markets

The US dollar index, meanwhile, slipped 0.4%, making bullion less expensive for overseas investors.

The minutes from the last Fed meeting, at which the US central bank raised rates by 50 basis points after four consecutive 75 basis point hikes, are due at 2 p.m. ET.

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