Gold Continues to Rise on Rate Cut Hopes, Weak Dollar

Mark
Written By Mark

Gold continued to rise today, shining with support from the decline of the dollar and anticipation of further US interest rate cuts.
Spot gold rose 0.2 percent to $2,661.53 an ounce. The yellow metal had earlier hit an all-time high of $2,670.43.
U.S. gold futures rose 0.3 percent to $2,686.10 an ounce.
The dollar fell 0.2 percent, making dollar-denominated bullion cheaper for holders of other currencies.
Among other precious metals, silver fell 0.5 percent to $31.97 an ounce, platinum rose 0.1 percent to $986.85, and palladium lost 0.6 percent to $1,050.04 an ounce.