Precious Metal Market
Gold soared above the $2,600 level on Friday for the first time, extending a rally boosted by bets for further U.S. interest rate cuts, and rising tensions in the Middle East.
Gold lingered near record high levels on Friday and was on track for a weekly gain after the Federal Reserve’s recent super-sized interest rate reduction and on signs that further cuts were on the horizon.
Gold prices were flat on Wednesday as investors weighed chances of an outsized interest rate cut by the Federal Reserve later in the day.
Gold prices hovered near a record high on Tuesday, ahead of the anticipated start of the U.S. interest rate reduction cycle, which could see policymakers deliver an outsized cut.
Author : Ambar Warrick
Commodities
Investing.com– Gold prices rose in Asian trade on Thursday and remained in sight of record highs as traders bet that the yellow metal will still benefit from a lower interest rate environment. Gold prices rise, keep record highs in sight amid bets on smaller rate cut
Gold prices steadied on Wednesday, as investors keenly awaited the U.S. inflation data for hints on the size of the Federal Reserve’s potential interest rate cut next week.
Gold prices held their ground on Monday, as investors awaited the U.S. inflation report for further clues on the potential size of the Federal Reserve’s interest-rate cut.
Gold held below a one-week high on Friday and was on track for a weekly gain, as market participants focused on U.S. jobs data that could shape the size of an expected rate cut this month.
Gold prices slipped to their lowest level in nearly two weeks on Wednesday, extending declines to a fourth straight session as markets priced in smaller rate-cut bets for the U.S. Federal Reserve’s policy meeting this month.
Gold prices gained on Thursday, fueled by strong expectations of a Federal Reserve rate cut in September with investors focusing on U.S. inflation data for further insights on the potential size of the cut.
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