Gold continued to rise in price for the eighth month, and in September it received renewed strength after the US Federal Reserve cut rates.
Gold futures in December exceeded $2,700 per ounce for the first time in history. This was confirmed by data on the Comex exchange on Thursday, September 26.
The new historical record is now around $2,709. The spot price also set a new record, reaching $2,685 per ounce.
As written by Western agencies, gold continues to rise in price for the eighth month, and in September it received a new impetus after the US Federal Reserve lowered the rate. This week’s rally was fueled by economic stimulus announced in China.
Meanwhile, silver prices jumped to a 12-year high, supported by expectations of further Fed rate cuts.
The spot price of silver rose 2.6% to $32.632 an ounce for the first time since 2012, extending its gain so far this year to 37%.
Let’s remember that at the beginning of December 2023, the price of gold exceeded $2,100 per ounce for the first time in history. At the time, analysts predicted that the price of the precious metal could remain above $2,000 per ounce in 2024. In the first half of September, the price of gold reached a new historic high.
Source: korrespondent
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