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Gold Holds Firm Near Record High on US Rate-Cut Expectations
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7 Articles
Shafaq News - Baghdad/ErbilGold fell on Thursday due to profit taking after hitting an unprecedented peak, supported by expectations of a US interest rate cut, while investors await important US jobs data scheduled for release this week. Spot gold fell 0.3% to $3,546.73 per ounce, as of 01:53 GMT, after reaching a record high of $3,578.50 on Wednesday. US futures for December delivery also fell 0.8% to $3,605.60 per ounce. US stocks were mostly …
In a climate of geopolitical tensions and economic slowdown, the yellow metal takes advantage of expectations of lower rates and imposes itself as an indispensable asset for investors. The post Placement: the gold doped by monetary expectations appeared first on LesEco.ma.
The Economic Times
Business TimesGold holds firm near record high on US rate-cut expectations
Gold prices remained stable near record highs. This was supported by global economic uncertainties. Expectations of a U.S. interest rate cut also played a role. Investors are now awaiting key U.S. jobs data. The U.S. Labor Department reported a fall in job openings. Fed officials suggest rate cuts are likely. Focus is now on U.S. non-farm payrolls data.
The quotation for a fine ounce (about 31.1 grams) reached a peak on Wednesday at around 3.547 US dollars.
Gold has the fertile ground to beat new historical records. The Trump administration’s pressure on the Federal Reserve to adopt a more lax monetary policy, doubts about long-term public debt and geopolitical uncertainty drive gold metal to record figures. The price per ounce has reached $3,540 during the last morning, a level never seen. Continue reading...
According to the financial news agency Bloomberg, at 01h24 (Lisboa time), the gold price reached a new maximum of $3,546,96 (EUR 3,047,87) per ounce (equivalent to 31.1 grams). The plate has also come to be negotiated in new maximums, having been very close to $41 (€35.19) per ounce. Experts explain that the price of precious metals is being boosted by the growing expectations of a cut of interest rate by the United States Federal Reserve (Fed) …
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