Saturday, September 21, 2024
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Gold at record highs on US rate cut bets

Price movements

Go up gold Spot gold was up 1 percent at $2,583.29 an ounce by 14:05 GMT, its highest level on record.

U.S. gold futures rose 0.7 percent to $2,598.10.

The dollar index fell 0.4 percent, making greenback-denominated gold less expensive for holders of other currencies.

According to the CME FedWatch tool, traders are now pricing in a 41 percent chance of a 50 basis point rate cut at the Fed’s Sept. 18 meeting, up from a 28 percent forecast after the Wall Street Journal and Financial Times reported that a bigger cut was still on the table.

And reduce European Central Bank Interest rate again yesterday, Thursday.

And it rose Silver Spot gold rose 0.7 percent to $30.13 an ounce.

Palladium fell 0.2 percent to $1,044.14 but has risen 14 percent since the start of the week.

Platinum rose 1.1 percent to $988.35.



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