Gold prices rebounded and looked set to scale a fresh peak on Thursday, on mounting expectations for another US interest rate cut this year, while investors awaited Federal Reserve Chair Jerome Powell's address later for more policy cues, reports Reuters.
Spot gold climbed 0.4 per cent to $2,668.05 per ounce, as of 0913 GMT, a few dollars away from the record $2,670.43 it hit on Wednesday. US gold futures were up 0.2 per cent to $2,691.20.
Bullion has risen more than 29 per cent so far in 2024. Platinum rose 1.8 per cent to $1,005.61 and palladium gained 2.4 per cent to $1,062.36. Among other metals, spot silver climbed 0.9 per cent to $32.16 per ounce, holding close to the four-month high it hit on Wednesday.
Gold near record high
FE Team | Published: September 27, 2024 00:39:45
Gold near record high
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