Gold Lingers Near Record Highs

Gold prices were steady on Thursday, hovering close to record highs, on expectations of another big US rate cut this year. Spot gold was up 0.2% at $2,661.25 per ounce. Bullion hit a record high of $2,670.43 on Wednesday. US gold futures were steady at $2,684.50. A mild bounce from the US dollar has managed to keep the gold price in check, however with markets still anticipating more aggressive cuts from the Fed between now and year-end, Bullion has risen nearly 29% so far in 2024 and hit record highs several times this year, largely fuelled by monetary policy easing by major global banks and geopolitical concerns. Source: Qatar News Agency