Gold prices to rise further

Gold prices have seen a rebound after the U.S. Federal Reserve raised its benchmark rate by 25 basis points last week. Since then, the weakness in the dollar has led to further strength in gold prices.

The precious metal hit a two-week high on Monday as the dollar plunged to a 6-week low after the Fed’s dovish outlook on the pace of rate increases this year continued to disappoint dollar bulls. But a number of analysts believe that gold will continue to rise further.

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