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GOLD: Intraday Forecast & Setup update

Gold prices fell on Monday as traders dialled back expectations for rapid interest rate cuts, while improved risk sentiment ahead of key U.S. economic data and major central bank policy meetings this week also weighed on the safe-haven asset.

Gold prices seem to be capped by lower expectations for Fed’s rate cut in March. Still, geopolitical uncertainty in the Middle East – especially around the Red Sea route – has kept gold supported above $2,015, said Kelvin Wong, a senior market analyst for Asia Pacific at OANDA.

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