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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
