Gold Extends Record Run as US Rate-Cut Bets Lift Appeal

Singapore, September 03 (QNA) - Gold prices extended their record run on Wednesday, holding firm above the key $3,500 level, driven by growing investor confidence that theآ US Federal Reserveآ will cut interest rates in September.

Spot gold was up 0.2% at $3,540.64 per ounce, and US gold futures for December delivery gained 0.4% to $3,607.60.

Non-yielding gold typically performs well in a low-interest-rate environment.

Spot silver eased 0.2% to $40.81 per ounce, platinum gained 0.6% to $1,412.30, and palladium rose 1% to $1,145.69. 

Source: QNA