👀 GOLD gains over 1% and climbs to new record highs
Gold is trading higher today, with precious metal catching a bid in the early afternoon and moving to fresh record highs. GOLD is up over 1% on the day and broke above precious records reached near $2,484 mark in July. Daily highs, which is a new intraday all-time high was reached near $2,492.50 per ounce, before price pulled back slightly.
Gold has been trading higher in recent days amid increased expectations that Fed will begin to cut rates in September and may even decide on a 50 basis point rate cut in September or November. The move higher in the early afternoon today came without any accompanying news and can be seen as continuation of those dovish moves on the gold market.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app
Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
