WASHINGTON (dpa-AFX) - Gold extended gains to a near three-week high on Tuesday amid growing expectations of another Fed rate cut in December.
Spot gold jumped 0.7 percent to $4,143.70 an ounce, while U.S. gold futures were up 0.7 percent at $4,150.55.
In an interview with CNBC, U.S. Federal Reserve Governor Stephen Miran has called for continuing with rate cuts, citing better-than-expected inflation data and signs of continued weakness in the labor market.
Emerging stresses in housing and private credit markets warrant a half-point cut next month but 'at a minimum' the central bank should lower rates by an additional quarter percentage point, he said.
The U.S. dollar was marginally higher in European trade after the U.S. Senate passed a short-term funding bill to end the longest government shutdown in U.S. history.
The bill will now be sent to the House, where a vote could come as early as Wednesday.
Investors are optimistic that the reopening would lead to the resumption of the release of key U.S. economic data on jobs and inflation, heading into next month's Federal Reserve interest-rate decision.
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