TechFlow, September 23 — Supported by expectations of U.S. rate cuts and a weaker dollar, gold prices stabilized after hitting a record high, as investors await comments from Federal Reserve Chair Powell for further policy clues. Kelvin Wong, senior market analyst at OANDA, said the short-term trend remains bullish, but intraday corrections are expected to be driven more by technical factors. ANZ bank said in a report that slowing economic growth, rising inflation, shifting geopolitical dynamics, and a weaker dollar will keep gold investment demand strong. As long as gold shines, investment demand will continue to drive silver prices higher. (GoldTen)
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