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Gold trades near record highs on US rate cut bets; silver at 14-year high
Gold hit a more than four-month high on Monday to trade around $30 shy of all-time highs, buoyed by U.S. Federal Reserve rate cut bets and a softer dollar, while silver breached $40 per ounce for the first time since 2011. Spot gold was up 0.7% at $3,469.84 per ounce by 1049 GMT, its highest since April 22 when it touched a record-high of $3,500.05. U.S. gold futures for December delivery gained 0.8% to $3,542.80. Spot silver jumped 2.3% to $40.60 per ounce, its highest since September 2011. The U.S. dollar was trading near its lowest since July 28 against rivals, making greenback-priced bullion cheaper for overseas ... (full story)
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