Gold clings to record high on growing US rate-cut betsFinanceGold clings to record high on growing US rate-cut bets

Gold clings to record high on growing US rate-cut bets

Gold prices firmed on Thursday to hover near a record peak hit in the previous session, as traders ramped up bets of an earlier start to interest-rate cuts by the U.S. Federal Reserve, constraining gains in the dollar and Treasury yields.

Spot gold was up 0.3% at $2,464.90 per ounce as of 1155 GMT, having hit an all-time high of $2,483.60 on Wednesday. U.S. gold futures also climbed 0.3% to $2,468.20.

Source: REUTER

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