US stocks rise on rate hopes as gold hits record high

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US and European stock markets surged on Wednesday, while gold reached a record high of $2,150. The Federal Reserve's indication of potential rate cuts and the British government's pro-growth budget contributed to the positive market sentiment. The dollar weakened due to expectations of lower interest rates. Earlier in the week, US stocks had experienced a slight decline as investors secured profits ahead of Federal Reserve Chief Jerome Powell's congressional testimony.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/r7MP8uh

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