Gold held just below a record high and silver traded above US$40 an ounce, as the prospect of Federal Reserve rate cuts and growing concerns over the central bank’s future gave fresh legs to the multi-year rally in precious metals.
Spot silver steadied after surging as much as 2.7 per cent on Monday to breach US$40 an ounce for the first time since 2011, while gold held a 0.8 per cent gain to trade just below its April record above US$3,500 an ounce.
The latest run has been underpinned by…Gold held just below a record high and silver traded above US$40 an ounce, as the prospect of Federal Reserve rate cuts and growing concerns over the central bank’s future gave fresh legs to the multi-year rally in precious metals.
Spot silver steadied after surging as much as 2.7 per cent on Monday to breach US$40 an ounce for the first time since 2011, while gold held a 0.8 per cent gain to trade just below its April record above US$3,500 an ounce.
The latest run has been underpinned by…  Read More ​Business – South China Morning Post