Gold Prices Hit Record High as Dollar Weakens

Gold prices recorded a historic rise on Tuesday, supported by a weakening dollar ahead of this week’s Federal Reserve meeting amid widespread expectations of an interest rate cut.اضافة اعلان

According to Bloomberg, the spot price of gold rose 0.1% to $3,680.17 per ounce, while U.S. gold futures for September delivery remained steady at $3,718.80.

For other precious metals, spot silver remained at $42.71 per ounce, platinum fell 0.1% to $1,399.40, and palladium rose 0.4% to $1,188.59.

The dollar fell on Tuesday to near a two-and-a-half-month low against the euro, as market bets increased on a Federal Reserve interest rate cut this week, with expectations of further reductions to follow.

— (Petra)