Dubai: Gold Prices Near Record High, Set For Weekly Gains On Fed Rate-Cut Boost
Bullion rose to a record high of $2,599.92 on Wednesday after the Fed began its easing cycle with a half-percentage-point cut. The Fed also projected a further half-point reduction by year-end, a full point next year and an additional half-point trim in 2026.
Gold prices rise after bumper Fed rate cut; copper upbeat on China stimulus
Spot gold rose 0.3% to $2,593.31 an ounce, while gold futures expiring in December rose 0.2% to $2,618.40 an ounce by 00:43 ET (04:43 GMT). Safe haven demand for gold was also aided by worsening tensions in the Middle East, after Israel allegedly exploded electronic devices used by Hezbollah, drawing vows of retaliation.
The euphoria in equity markets following the Federal Reserve’s interest-rate cut is stoking the risk of a bubble, making ...
Gold prices climbed after the Fed’s rate decision, with after-hours gold futures and SPDR Gold shares both higher from being flat before confirmation of the cut.
The yellow metal popped to a new record high of $2,600 on Wednesday before quickly falling back following the ...
Gold prices slipped from all-time highs on Wednesday, as the dollar and Treasury yields rose on the back of comments from ...
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