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Gold touches six-week high as rate cut bets weigh on dollar; silver hits record high
Gold prices rose to a six-week high on Monday, supported by growing expectations of U.S. interest rate cuts and a sliding dollar, while silver struck a record high ahead of key U.S. economic data. Spot gold was up 0.3% at $4,241.27 per ounce, as of 1:44 p.m. ET (1844 GMT), its highest since October 21. U.S. gold futures for February delivery settled 0.5% higher to $4,274.80.Silver was up 3.8% to $58.57 per ounce, after hitting an all-time high of $58.83 earlier. The white metal has risen over 100% so far this year. The U.S. dollar slipped to a two-week low, making gold more affordable for holders of other currencies. ... (full story)
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