Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Commodities»Gold clings to record high on growing US rate-cut bets
    Commodities

    Gold clings to record high on growing US rate-cut bets

    July 18, 20242 Mins Read


    Gold prices firmed on Thursday to hover near a record peak hit in the previous session, as traders ramped up bets of an earlier start to interest-rate cuts by the U.S. Federal Reserve, constraining gains in the dollar and Treasury yields. Spot gold was up 0.3% at $2,464.90 per ounce as of 1155 GMT, having hit an all-time high of $2,483.60 on Wednesday. U.S. gold futures also climbed 0.3% to $2,468.20.

    “Gold continues to shine on growing speculation around lower U.S. interest rates this year. Recent dovish comments by Fed officials, complemented with a broadly weaker dollar and subdued Treasury yields have sweetened appetite for the precious metal,” said FXTM senior research analyst Lukman Otunuga. [USD/] [US/]


    Further signs of the U.S. labour markets cooling and more dovish remarks by Fed officials could keep this upside momentum alive, opening doors to fresh all-time highs, Otunuga added.

    Fed Governor Christopher Waller and New York Fed President John Williams both noted the shortening horizon toward looser monetary policy. Separately, Richmond Fed President Thomas Barkin said he was “very encouraged” on broadening declines in inflation.

    Lower rates increase the appeal of non-yielding bullion.

    Gold price will continue to trade higher during the second half of 2024, analysts said in a brief review conducted by LBMA.

    According to the World Gold Council, global physically backed gold exchange-traded funds recorded their second consecutive month of inflows in June. [GOL/ETF]

    However, “the surge in (gold) price has stifled the physical markets in south and southeast Asia, with buying evaporating and some selling coming back. This is not unusual and the buyers will return once they have acclimatised to the new range,” said StoneX analyst Rhona O’Connell in a note.

    Over the next six to 12 months, Citi expects gold to rise $2,700-$3,000 per ounce and silver to climb $38 per ounce.

    Spot silver rose 0.3% to $30.39 per ounce, platinum firmed 0.2% to $996.22 and palladium lost 0.1% to $950.50.
    Whatsapp Banner

    (You can now subscribe to our ETMarkets WhatsApp channel)



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    The brilliant new metal bands you need to hear in August 2025

    Commodities

    Amazon joins innovative partnership to launch first-of-its-kind energy project: ‘It’s a triple win’

    Commodities

    You can now get an exclusive Babymetal Metal Hammer issue with a limited edition variant cover

    Commodities

    How to save local farmland and help farmers

    Commodities

    High Noon vodka found in energy drink cans; What to know about Celsius recall in PA

    Commodities

    Changes to agricultural land regulations afoot after hunters’ lobby meets with minister

    Commodities
    Leave A Reply Cancel Reply

    Top Picks
    Fintech

    Antier lance une plate-forme de marque blanche régulée pour la tokenisation immobilière

    Stock Market

    Medimi étudie la possibilité de vendre sa société danoise et de procéder à une acquisition inversée de la place de marché -Le 30 janvier 2025 à 09:00

    Cryptocurrency

    New Lawsuit Targets CZ and Binance for Alleged Laundering of Stolen Cryptocurrency

    Editors Picks

    3 Factors Behind Bitcoin’s Latest Record High. Will This Major Cryptocurrency Continue to Rise?

    July 15, 2025

    Condor Energy Storage Project commences operations in California

    August 7, 2024

    Tube Investments Share Price: Tube Investments shares rise 1.62 per cent in Monday’s trading session

    July 22, 2024

    Galaxy S25 Ultra chip focuses on GPU energy efficiency not CPU performance

    July 29, 2024
    What's Hot

    Grayscale files S-3 for Digital Large Cap ETF

    April 1, 2025

    Estate agent wins commission dispute after US$1,1 million property sale dispute – Nehanda Radio

    March 25, 2025

    Fintech Robos Rebrands for Broader Regional Impact and Expanded Financial Services

    August 5, 2024
    Our Picks

    Property guru Phil Spencer reveals five cheap and easy garden improvements that could add £60,000 to your home

    April 26, 2025

    Veonity – The Final Element Review

    October 17, 2024

    Virginia coach Tony Bennett explains sudden retirement

    October 19, 2024
    Weekly Top

    What Is Cryptocurrency And Why Is It Changing The Way We Think About Money?

    August 1, 2025

    How to save local farmland and help farmers

    August 1, 2025

    High Noon vodka found in energy drink cans; What to know about Celsius recall in PA

    August 1, 2025
    Editor's Pick

    Trump Campaign Eyes Crypto Voters: What VP JD Vance’s Nomination Means For Bitcoin

    July 19, 2024

    Understanding Cryptocurrency During Divorce

    February 17, 2025

    Commodity dependence runs deep, developing countries must add value to turn the tide | Press Releases | Asia

    July 28, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.