Commodities
Gold Climbs to Another Record With Fed Rate Cut Expected in Days
- Central bank’s expected move to monetary easing in spotlight
- Some market watchers preparing for 50-basis-point reduction
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Gold rose to a record as markets waited for the Federal Reserve to begin easing monetary policy for the first time in more than four years.
Bullion climbed as much as 0.5% to a high of $2,589.70 an ounce, extending last week’s 3.2% gain, ahead of the Fed’s Sept. 17-18 meeting that’s widely expected to result in a rate cut of at least 25 basis points. Gold pared some of its increase during US trading hours.