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Gold firms above key $4,000 level on US rate cut bets
Gold steadied on Thursday, holding firm above the $4,000 level it crossed for the first time ever a day before, amid hopes of further U.S. rate cuts this year and signs of easing tensions in the Middle East. Spot gold was steady at $4,037.95 per ounce as of 0439 GMT, erasing a 0.5 per cent drop in early trade. The metal touched a record high of $4,059.05 on Wednesday. U.S. gold futures for December delivery fell 0.3 per cent to $4,056.80. Federal Reserve officials agreed that risks to the U.S. job market were high enough to warrant a rate cut, but remained wary amid stubborn inflation, per minutes of the September ... (full story)
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