Gold hits record high as traders bet on US rate cuts, eye Powell’s signal

From brecorder.com

Gold prices steadied on Tuesday after reaching a record high, underpinned by expectations of more U.S. rate cuts and a weaker dollar, as investors awaited Federal Reserve Chair Jerome Powell’s speech for further policy cues. Spot gold held its ground at $3,743.39 per ounce as of 0238 GMT, after hitting a record high of $3,759.02 earlier in the session. U.S. gold futures for December delivery rose 0.1% to $3,779.50.The U.S. dollar index was down 0.1%, making greenback-priced gold cheaper for overseas buyers. “The short-term trend is still bullish intact, but on an intraday basis, we do expect a short-term pullback ... (full story)