Gold jumps to record high after US Fed delivers 50 bps rate cut
- Posted on September 18, 2024
- By Business News Today
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Gold jumps to record high after US Fed delivers 50 bps rate cut
Gold prices reached an all-time high after the U.S. Federal Reserve cut interest rates by 50 basis points, weakening the dollar. Spot gold rose to $2,592.39 per ounce, while U.S. gold futures settled at $2,598.60. Investors are now awaiting comments from Fed Chair Jerome Powell for further policy direction.
