US EditionGold Hits Record High as Dollar, Yields Ease; Spotlight on Fed Meeting
15 Articles
15 Articles
Gold Rate: Yellow Metal Surges to USD 3,689 per Ounce Amid Softer Dollar and Federal Policy Speculation
Gold price surged to a fresh all-time high on Tuesday, September 16, touching USD 3,689 per ounce amid a softer dollar and growing speculation over the Federal Reserve’s upcoming policy decision. In India, 24-karat gold is priced at INR 11,105 per gram and INR 1,11,050 per 10 gm, while 22-karat gold stands at INR 10,179 per gram, as per Good Returns. Gold Rate: Yellow Metal Surges to USD 3,689 per Ounce Amid Softer Dollar and Federal Policy Spec…
Spot gold reached $3,642.65 per ounce by 10:06 Abu Dhabi time, after rising 1.6% last week to hit a record high of $3,673.95.
The price of gold is setting new records almost daily and gold funds have risen by around 65 percent this year. But it is not risk-free to jump on the gold bandwagon. “When something rises so sharply in value, it is a signal that the investment is associated with great risk,” says SEB's Robert Bergqvist.
The market expects the Federal Reserve to announce a 25 basis point interest rate cut this week. As a result, on Monday (September 15), the price of gold soared to US$3,682 per ounce, a record high.
Gold reached new historic peaks on Monday’s day, driven by the fall of the dollar, while investors await the meeting of the United States Federal Reserve (Fed), where the expected cut in interest rates could be realized. At the close of the markets, spot gold earned 1.04%, to reach $3,681.05 and after reaching a peak of $3,685.57 earlier. Last week, the bullion won 1.6%. On the other hand, gold futures for delivery in December rose 0.94%, to $3,…
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