Gold hovers near record high on prospects of bigger Fed rate cut
- Posted on September 17, 2024
- By Business News Today
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Gold hovers near record high on prospects of bigger Fed rate cut
Gold prices remained steady near record highs, with spot gold at $2,582.84 per ounce. Markets are anticipating a U.S. Federal Reserve rate cut, possibly by 50 basis points. The dollar weakened, making gold cheaper for other currency holders. Investors are also focusing on U.S. retail sales data and political instability.