Gold Buoyed by Fed Rate-Cut Hopes, Geopolitical Concerns

GOLD - NEW YORK. Gold prices firmed on Wednesday on mounting bets of U.S. interest rate cuts in September and rising geopolitical tensions in the Middle East, with markets awaiting U.S. economic data for clues on the Federal Reserve's interest rate path.

Spot gold rose 0.5% to $2,400.89 per ounce, as of 9:43 a.m. ET (1343 GMT). U.S. gold futures gained 0.4% to $2,441.10.