Commodities
Gold Trades Near Record High as US Data Support Deeper Rate Cuts
- Market raising bets for 75 basis points of more cuts in 2024
- China’s stimulus announcement provided support to silver
This article is for subscribers only.
Gold traded steady near an all-time high as weak US data bolstered the case for deeper interest rate cuts.
Bullion climbed to a record $2,670.57 an ounce earlier on Wednesday, before paring gains. A report on Tuesday showed US consumer confidence this month fell the most in three years.