UAE sends 30 tonnes of food aid to support drought-affected communities in Kenya
UAE provides urgent relief to support flood-affected communities in Mozambique
UAE signs cooperation agreement with UN World Food Programme to support humanitarian efforts in sudan
UAE reopens Sheikh Zayed Child Care Complex in Istanbul following comprehensive redevelopment
Gold Climbs to Record High as US Fed Hints Rate CutSingapore, 20 Mar (ONA) —- Gold soared to a record high today,
as the US Federal Reserve hinted at a possible easing of interest
rates by half a percentage point by year-end, which further fostered
bullion’s appeal amid ongoing geopolitical and economic woes.
Spot gold rose 0.2% to $3,052.92 an ounce. Bullion reached an
all-time high of $3,055.31 per ounce earlier in the session.
US gold futures gained 0.7% to $3,061.00.
The Fed announced on Wednesday it had held its benchmark
overnight rate steady in the 4.25%-4.50% range.
However, Fed policymakers still expect the central bank to
deliver two quarter-percentage-point rate cuts by the end of this
year (2025), matching their projection from December.
Spot silver firmed 0.1% to $33.84 an ounce, platinum added 0.4%
to $996.80, and palladium edged up 0.1% to $959.65.—- Ends/Khalid
