Gold flat after bumper Fed rate cut
- Posted on September 19, 2024
- By Business News Today
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Gold flat after bumper Fed rate cut
Gold prices remained steady on Thursday as investors assessed Federal Reserve Chair Jerome Powell's remarks following a significant rate cut by the U.S. central bank. Spot gold was little changed at $2,558.00 per ounce, while U.S. gold futures fell 0.6% to $2,582.70. The dollar strengthened, making gold more expensive for other currency holders.