March 25 - Gold prices rose on Monday, driven by expectations of interest rate cuts by the U.S. Federal Reserve this year even as traders await inflation readings this week for confirmation on the timing of these reductions.
Gold can easily hit the $2,300 levels or higher in the second quarter, as discretionary traders and exchange-traded fund investors, who so far have not really participated in the rally, come into the market once rate cuts are confirmed, said Bart Melek, head of commodity strategies at TD Securities.The dollar also pared some of last week's gains, making bullion cheaper for overseas buyers.
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