Gold prices rose to a record high, breaking through $4,500 an ounce for the first time, amid rising tensions in Venezuela and expectations of further US interest rate cuts next year.
Bullion prices rose more than 0.5%, extending their three-day rally. Tensions in Venezuela, where the US has blocked oil tankers, have boosted the precious metal's appeal as a safe-haven asset as it heads for its best annual performance since 1979.
Traders are also betting that the US Federal Reserve will continue its three consecutive interest rate cuts by lowering borrowing costs again next year, which would be a boost for the non-yielding precious metal.
Spot gold rose 0.5% to $4,507.27 an ounce as of 7:44 a.m. in Singapore. Silver rose 0.6% to a record $71,856. Platinum traded above $2,300 an ounce for the first time, according to data compiled by Bloomberg since 1987. Palladium also rose. The Bloomberg Dollar Spot Index ended the previous session down 0.3%. (alg)
Source: Bloomberg
Gold and silver rallied to fresh all-time highs on escalating geopolitical tensions and prospects for more US rate cuts. Spot silver rose as much as 3.6% to trade above $70 an ounce for the firs...
Global gold prices recorded a slight decline in today's US trading session after the release of the latest economic data showing stronger-than-expected US economic growth. Third-quarter US GDP data sh...
Gold prices hit a record high in early Asian trade on Tuesday, extending recent gains as safe-haven demand was buoyed by heightened geopolitical tensions between the U.S. and Venezuela. Thin trading ...
Gold prices hit a new record on Monday, rallying sharply amid rising geopolitical tensions and speculation that the Federal Reserve (The Fed) will cut interest rates further next year. Gold surged to ...
Gold (XAU/USD) rallied more than 2% on Monday (December 22nd), hitting a record high of $4,442 amid rising geopolitical tensions and expectations that the Federal Reserve (Fed) will continue to cut in...
Asian stocks rose at the opening session today, tracking significant gains on Wall Street, which hit a record high after data showed the US economy grew at its fastest pace in two years. The MSCI Asia Index rose 0.2%, with Japan and South Korea...
Japan's Nikkei index edged up 0.2% on Wednesday (December 23rd), reaching 50,519.41, following gains on Wall Street overnight. The rise was fueled by recently released US economic data, which painted a mixed picture but still showed resilience....
Oil prices continued their five-day rally on Tuesday (December 23), as traders weighed rising geopolitical tensions and higher inventory data. West Texas Intermediate (WTI) traded around $58 per barrel, after posting a nearly 6% gain in the...
Federal Reserve Bank of Cleveland President Beth Hammack said she saw no need to change U.S. interest rates for months ahead after the central bank...
Asian stocks opened higher, following Friday's rise in US stocks, which fueled hopes for a year-end rally. Many investors are starting to re-enter...
European markets moved into negative territory on Monday as last week's positive sentiment wears off.
The pan-European Stoxx 600 provisionally...
Both the STOXX 50 and the STOXX 600 traded around the flatline on Monday, as investors adopted a cautious stance amid a lack of fresh catalysts. The...