US rate cut, geopolitical woes lift gold to record high

Quick Summary:

GOLD extended gains to scale a record high on Monday, driven by the momentum generated by the Federal Reserve's interest rate cut and safe-haven demand due to geopolitical risks in the Middle East.

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Non-yielding gold is up over 27% so far this year, heading for its biggest annual rise since 2010.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaIsraelThailand

Topics: Federal Reserve Interest rate Geopolitical Commodities Gold /Business/Business News Middle East

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-23 @ 14:33:00 (6 days ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 366 words

Reading Time: 3 minutes read

Sentences: 13 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 22649647

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Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 11 posts per day

Year Established: 1971

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News Last Updated: 1 hours ago

Coverage Areas: Malaysia

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Publisher ID: #22

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