Gold prices notched up an all-time high on Wednesday, as growing optimism for an interest-rate cut from the U.S. Federal Reserve in September and a weaker dollar boosted demand.
Spot gold dropped about 0.6% to $2,454.98 per ounce by 1748 GMT due to profit-taking after hitting an all-time high of $2,483.60 earlier in the session.U.S. gold futures settled 0.3% lower to $2,459.90 per ounce.
"The expectation that we are getting closer to a Fed interest rate cut and we've seen this as yields continue to slowly grind lower in anticipation, that, along with a weaker dollar, are the main supportive factors behind this gold move," said David Meger, director of alternative investments and trading at High Ridge Futures.
For more Updates Do follow us on Social Media
Facebook Page https://bit.ly/3blw5Rg
Instagram https://bit.ly/3MsRHbP
YouTube https://bit.ly/3LjGj2L
Twitter https://bit.ly/3E9IO5U
Linkedin https://bit.ly/3M17Xlk
WhatsApp Group https://bit.ly/JewelBuzz13
Comentarios