Record levels of bullion buying as gold fever grips London

Spot gold jumped to a record above $5,500 an ounce on Thursday, extending a blistering rally as investors piled into the safe-haven metal amid geopolitical and economic uncertainties, while silver also notched an all-time high. Spot gold was up 2.9 per cent at $5,554.76 an ounce, as of 2343 GMT, after hitting a record $5,591.61 earlier in the day. Prices ...

BESSENT SAYS US 'ABSOLUTELY NOT' INTERVENING IN DOLLAR-YEN BREAKING: US Treasury Secretary Bessent on the dollar: The US always has a strong dollar policy. Strong dollar means setting right fundamentals. BESSENT SAYS TODAY'S RATE DECISION IS 'UP TO' THE FED BESSENT SAYS HAD LONG DISCUSSION ON PLANE WITH TRUMP ON FED CHAIR BESSENT SAYS HAVE 4 GREAT CANDIDATES FOR FED CHAIR

Available indicators suggest that economic activity has been expanding at a solid pace. Job gains have remained low, and the unemployment rate has shown some signs of stabilization. Inflation remains somewhat elevated. The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. Uncertainty about the economic outlook remains elevated. The Committee is attentive to the risks to both sides of its dual mandate. In support of its goals, the Committee decided to maintain the target range for the federal funds rate at 3‑1/2 to 3‑3/4 percent. In considering the extent and timing of additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks. The Committee is strongly committed to supporting maximum employment and returning inflation to its 2 percent objective. In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee's goals. The Committee's assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments. Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Michael S. Barr; Michelle W. Bowman; Lisa D. Cook; Beth M. Hammack; Philip N. Jefferson; Neel Kashkari; Lorie K. Logan; and Anna Paulson. Voting against this action were Stephen I. Miran and Christopher J. Waller, who preferred to lower the target range for the federal funds rate by 1/4 percentage point at this meeting. FOMC STATEMENT COMPARE pic.twitter.com/zK9gGdjOKS *FED SAYS GOVERNORS WALLER, MIRAN DISSENT IN FAVOR OF 25 BPS CUT *FED: UNEMPLOYMENT RATE HAS SHOWN SOME SIGNS OF STABILIZATION