US EditionGold Extends Record Run Past $4,200 on Rate-Cut Hopes | Honolulu Star-Advertiser
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Gold extends record run past $4,200 on rate-cut hopes | Honolulu Star-Advertiser
Gold prices breached $4,200 per ounce for the first time on Wednesday, extending a record rally as rising interest rate cut bets and geopolitical jitters send investors flocking to the safe-haven metal.
Gold for the first time exceeded $4,200 an ounce this Wednesday, due to expectations of further cuts in interest rates in the United States, while economic and geopolitical uncertainty also led investors to buy this shelter asset. Cash gold earned 1.6%, at $4,209.49 per ounce, at 0829 GMT, after reaching a historic peak of $4,217.95 earlier in the session. Gold futures in the United States for delivery in December advanced 1.5%, to $4,227.
Gold prices continue to climb to a record high above $4,200 an ounce amid US-China tensionsSpot gold rose to $4,237.87 an ounce, while US gold futures hit $4,252.59. The price rise is supported by expectations of a Fed rate cut and escalating trade tensions between the US and China.
Gold climbed to a record high on Thursday, benefiting from investor appetite for the precious metal, with growing expectations of a U.S. interest rate cut and a weaker dollar. Spot gold was up 0.4 percent at $4,224.79 an ounce by 0033 GMT, after hitting a record high of $4,225.69. U.S. gold futures for December delivery rose 0.9 percent to $4,239.70. Gold is considered a safe-haven asset during times of uncertainty and typically thrives in a low…
The XAU/USD record rally remains uninterrupted, where next?
Gold maintains its record-setting advance early Thursday, after having settled Wednesday above the $4,200 threshold. Gold could see some profit-taking ahead of Fedspeak Amidst sustained US Dollar (USD) weakness and persistent demand for safe havens, Gold – a traditional store of value – extends its record run into the fourth consecutive day on Thursday. Gold buyers remain defiant as the ongoing trade spat between the United States (US) and Chin…
The gold ended this Wednesday’s day with a remarkable appreciation, gaining more than $4,200 per ounce, which represents a new nominal record for precious metal. According to data from Investing, spot gold gained 0.09%, up to $4,212.09. While gold futures for delivery in December rose 0.06%, up to $4,227.29. This upward shift, according to the Director of Analysis of ATFX Education, Antonio Montiel, shows a clear turning point in the upward cycl…
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