Gold soars to record as US rate-cut bets burnish appeal

Quick Summary:

Spot gold hit record peak of US$2,482.29 per ounce.

Markets are expecting a rate cut of at least 25 basis points by the Fed at the September meeting.

The allure of non-yielding bullion tends to be higher when interest rates are reduced.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChina

Topics: Interest July Target Cent Bullion Us$2 Rate Gold Rates Higher Prices

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-17 @ 11:45:00 (9 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 469 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 28 words per sentence (average)

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Copyright Owner: © The Straits Times

News ID: 21662506

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