US EditionSafe-Haven Gold Touches 2-Week Peak on Trade Tensions, Rate Cut Hopes
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Gold rose to a maximum of two weeks on Thursday, because strong U.S. tariffs boosted demand for shelter, while betting on interest rate cuts increased after new employment data. Cash gold gained 0.5%, to $3,384.80 an ounce, and gold futures in the U.S. advanced 0.4%, to $3,446.7."Commercial tension and increased geopolitical tension continue to prop up the market with interest for shelter," said Peter Grant, Senior Metal strategist and Vice Pres…
Future contracts of precious metal for October closed at a height of 0.59%, to US$ 3.425.20 per eleven-threy
Gold Continues to Rise Locally and Globally Amid Escalating Trade Tensions and Growing Rate-Cut Bets
Gold prices recorded notable gains in both local and international markets on Thursday, driven by escalating trade tensions and renewed fears of a global economic slowdown. The rally is supported by a combination of interlinked factors, most notably a weakening U.S. dollar and mounting expectations that the Federal Reserve will cut interest rates at its upcoming meeting.
The precious metal in spot earned 0.3%, at US$3,375.99 an ounce, and futures in the United States GCcv1 advanced 0.5%, to US$3,448.9
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