Gold scales new record peaks as rate cut bets burnish appeal

Mar 7, 2024 · Gold scales new record peaks as rate cut bets burnish appeal. Anjana Anil ... Traders are now pricing in a 74% chance of a June rate cut, versus around 63% on Feb. 29, the CME's Fedwatch Tool ...

74%
OFF

Gold Scales New Record Peaks As Rate Cut Bets Burnish Appeal

2 weeks from now

yahoo.com

5%
OFF

Gold Scales New Record Peaks As Rate Cut Bets Burnish Appeal

2 weeks from now

Mar 7, 2024 · Gold scales new record peaks as rate cut bets burnish appeal Spot gold was up 0.5% to $2,157.89 per ounce as of 12:18 p.m. ET (1718 GMT), hitting an all-time high of …

moneycontrol.com

4%
OFF

Gold Scales New Record Peaks As Rate Cut Bets Burnish Appeal

2 weeks from now

Mar 7, 2024 · Spot gold was up 0.4% at $2,156.93 per ounce as of 02:00 p.m. ET (1900 GMT), hitting record high of $2,164.09 during the Asian trading hours. U.S. gold futures settled 0.2% …

financialnewsletter.com

50%
OFF

Gold Scales New Record Peaks As Rate Cut Bets Burnish Appeal

2 weeks from now

Mar 7, 2024 · Gold scales new record peaks as rate cut bets burnish appeal Open in App. Get 50% Off ... Gold scales new record peaks as rate cut bets burnish appeal. Commodities. …

investing.com

4%
OFF

Gold Scales New Record Peaks As Rate Cut Bets Burnish Appeal

2 weeks from now

Mar 7, 2024 · Spot gold was up 0.4% at $2,156.93 per ounce as of 02:00 p.m. ET (1900 GMT), hitting record high of $2,164.09 during the Asian trading hours. U.S. gold futures settled 0.2% …

investing.com

FAQs about Gold scales new record peaks as rate cut bets burnish appeal Coupon?

Why did gold prices jump to an all-time peak?

Gold prices jumped to an all-time peak on Wednesday, driven by mounting hopes of a U.S. interest rate cut in September after recent comments from Federal Reserve officials. Spot gold was up 0.2% at $2,473.87 per ounce, as of 0250 GMT, after hitting a record peak of $2,482.29. U.S. gold futures gained 0.3% to $2,475.80. ...

Why did gold prices surge to a record high on Thursday?

(Reuters) - Gold prices surged to a record high on Thursday, poised for their seventh consecutive daily rise, led by sluggish U.S. economic data and Federal Reserve Chair Jerome Powell's indications of potential rate cuts in the coming months should inflation alleviate. ...

Why did gold hit an all-time high?

Gold raced to an all-time high on Thursday, extending its record run this week as increasing bets for U.S. monetary easing added to sustained tailwinds for bullion from central bank buying and safe-haven demand. Spot gold was up 0.46% to $2,158.1255 per ounce, hitting an all-time high of $2,164.09 during the Asian trading hours. ...

Are rate cut bets driving gold prices?

Rate cut bets are driving gold prices and everyone is expecting they will come, said World Gold Council market strategist Joseph Cavatoni. Central banks’ gold purchases also continue to be very strong, Cavatoni added. Further market direction could come from Friday’s U.S. non-farm payrolls report. ...

Why did gold get a boost on Wednesday?

Gold got a boost on Wednesday after Powell indicated that interest rate cuts were likely in the coming months "if the economy evolves broadly as expected," along with further evidence of falling inflation. Powell will speak again later in the day. Lower rates boost the appeal of non-yielding bullion. ...

How did Powell's remarks affect gold?

Lower rates boost the appeal of non-yielding bullion. Powell's remarks, coupled with data released the same day indicating a softening of labour market conditions, resulted in U.S. Treasury yields and dollar sliding, increasing the appeal of gold. ...