The momentum in gold’s recent rally has lost much of its shine, with the precious metal unable to reach new record highs since Aug. 20, as U.S. Treasury yields stabilize and the dollar rebounds. On Wednesday, gold traded at $2,505 per ounce, down 0.8% for the day, poised to break athree-session winning streak. The dollar’s recent surge, driven by positive catalysts, appears to be fading, prompting traders to take profits and reduce exposure to gold. Rate-cut expectations have not seen significant improvement, with speculators fully pricing in a September rate cut but assigning a 65% probabilit…
