Gold (XAUUSD) Edges Up After Two Days of Losses on Reduced Rate-Cut Bets

Gold steadied following two days of losses that were spurred by fading optimism the US Federal Reserve will cut interest rates next month.

Bullion was trading slightly below $4,100 an ounce on Monday, having lost more than 2% in the previous session. Expectations for another rate cut were scaled back last week as Fed officials showed little conviction for reducing borrowing costs. Lower interest rates typically make non-yielding bullion more appealing to investors.