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Gold prices hold near Rs 1.30 lakh as traders brace for a Fed rate cut. Is a breakout above Rs 1.31 lakh next?

Gold hovered near Rs 1.30 lakh as traders awaited next weeks U.S. Fed meeting, with expectations of a rate cut keeping global prices firm above $4,200. Weak U.S. payroll data and a soft dollar supported bullion, while analysts said a dovish Fed could trigger a breakout above Rs 1.31 lakh.