Gold skyrockets as stars align for Fed rate cuts
Gold prices powered higher on Friday, beating record levels, as a boost in bullish momentum fuelled by optimism that the U.S. Federal Reserve is on the brink of trimming interest rates was catalysed by fund inflows and a drop in the dollar.
Spot gold was trading at record levels, up 0.7% at $2,576.48 per ounce by 10:10 a.m ET (1410 GMT). U.S. gold futures rallied 1% to $2,605.30.
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Spot gold was trading at record levels, up 0.9% at $2,582.05 per ounce by 11:58 a.m ET (1558 GMT). U.S. gold futures rallied 1.2% to $2,610.30.
