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Gold hits record high in spot transactions, reaching $2,625.71 per ounce.
Gold prices jumped during trading on Monday, after the Federal Reserve cut interest rates for the first time in 4 years, and signs indicate that more cuts are looming, and with the follow-up of the latest developments in geopolitical tensions..
US gold futures rose 0.22 percent to a new high of $2,656.1..
Gold prices rose after the Federal Reserve began easing monetary policy by cutting interest rates by half a percentage point on Wednesday. The bank forecast another half-point cut by the end of the year, a full point next year and an additional half-point in 2026..
Among other precious metals, spot silver fell 0.2 percent to $31.06 an ounce. Platinum fell 0.8 percent to $967.81, and palladium fell 1.3 percent to $1,053.67..
