Gold scales 2-week high as Fed signals likely Sept rate cut

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Home Business Gold scales 2-week high as Fed signals likely Sept rate cut 01-08-2024 10:51 AM Ammon News - Gold prices hit a two-week high on Thursday as U.S. Federal Reserve Chair Jerome Powell opened the door to cutting interest rates as early as September. Spot gold was little changed at $2,445.39 per ounce, as of 0650 GMT, after hitting its highest since July 18 earlier in the session. Prices were just $38 shy of the record high of $2,483.60 scaled on July 17. U.S. gold futures firmed 0.7% to $2,490.10. Spot silver fell 0.4% to $28.92, platinum lost 0.4% to $972.35 and palladium eased 0.2% at $923.60. Reuters

Home Business

Gold scales 2-week high as Fed signals likely Sept rate cut

01-08-2024 10:51 AM

Ammon News - Gold prices hit a two-week high on Thursday as U.S. Federal Reserve Chair Jerome Powell opened the door to cutting interest rates as early as September.

Spot gold was little changed at $2,445.39 per ounce, as of 0650 GMT, after hitting its highest since July 18 earlier in the session. Prices were just $38 shy of the record high of $2,483.60 scaled on July 17.

U.S. gold futures firmed 0.7% to $2,490.10.

Spot silver fell 0.4% to $28.92, platinum lost 0.4% to $972.35 and palladium eased 0.2% at $923.60.

Reuters

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