Gold prices stabilize after Federal Reserve policymakers support future interest cuts

Mark
Written By Mark

Gold prices stabilized today, after recording their highest level ever in the previous session, supported by comments from officials at the US Reserve (central bank) that indicated additional cuts in interest rates in the future.

Gold recorded about $2,625.52 per ounce in spot transactions, after reaching a record high of $2,635.29 yesterday (Monday).

US gold contracts fell 0.1 percent to record $2,650.30 an ounce.

As for other precious metals, silver settled in spot transactions at $30.66 per ounce, platinum rose 0.4 percent to $960.40 per ounce, while palladium lost 0.6 percent to record $1,035.25 per ounce.