Tuesday, October 8, 2024
16 C
London

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.



Source link

Hot this week

“Modon Holding” enters into a strategic partnership with “Candy Capital”

"She said"CitiesIn a statement on Tuesday, Partnership It...

Over 1,500 evacuated from Lebanon via Cyprus

A total of 1,550 people, primarily from third...

More emissions accountability needed in Toronto’s financial sector: report – Toronto

By Staff The Canadian Press Posted October 8, 2024 7:15...

No pay rise planned for president, ministers

The finance ministry on Tuesday denied reports the...

Topics

“Modon Holding” enters into a strategic partnership with “Candy Capital”

"She said"CitiesIn a statement on Tuesday, Partnership It...

Over 1,500 evacuated from Lebanon via Cyprus

A total of 1,550 people, primarily from third...

No pay rise planned for president, ministers

The finance ministry on Tuesday denied reports the...

The Nobel Prize for virology goes to Hopfield and Hinton

The Nobel Prize Committee said in a statement,...

Amp up the audio with these Amazon Big Deal Days tech bargains – National

By Chad Sapieha The Curator Team Posted October 8, 2024...

First West Nile virus case found in Cyprus

The first West Nile virus case this year...
spot_img

Related Articles

Popular Categories

spot_imgspot_img