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Gold Holds After Surging to Record on Rate-Cut Bets, Debt Fears
Gold held a six-day rally that pushed prices to an all-time high on Tuesday, as the prospect of US interest-rate cuts boosted the metal’s appeal and traders sought safety following a selloff in equity and bond markets. Bullion for immediate delivery held near $3,530 an ounce, after climbing as much as 1.8% to a new peak of $3,540.04. The metal’s haven demand has been boosted by a risk-off mood across financial markets, with renewed concerns over the Federal Reserve’s future and budget concerns in developed-world countries pressuring shares and long-dated government bonds. Gold has risen more than a third this ... (full story)
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