Gold prices continued to notch a new record on Wednesday, lifted by increasing optimism of a September interest rate.
Gold prices continued to notch new records Wednesday, lifted by increasing conviction that the Federal Reserve will cut interest rates in September following comments from Fed Chair Jerome Powell.
Spot gold prices rose 0.5% to $2,482.29 per ounce, hitting an all-time high according to LSEG data. Gold futures climbed to $2,478.4 an ounce.
On Monday, Powell said the Fed won’t wait for inflation to reach the central bank’s 2% target before it begins cutting, due to the delay in policy effects.
