Reuters - Gold rose over 1% on Tuesday, surging to an all-time high above $3,500 per ounce, with investors piling into the metal on growing conviction of a Federal Reserve rate cut and lingering political and economic risks. Spot gold was up 1.5% at $3,529.01 per ounce as of 2 p.m. EDT, after climbing as...
Spot gold was up 1.5% at $3,529.01 per ounce as of 2 p.m. gold futures for December delivery settled 2.2% higher at $3,592.2."The gold market is entering a seasonally strong period for consumption, coupled with expectations for a rate cut at the September Fed meeting. Non-yielding gold typically benefits in a lower interest rate environment.
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