Gold climbs 1% to top $4,250 on rate cut hopes16 Oct 2025 15:25
The price of gold rose by more than 1% on Thursday, reaching a new all-time high of $4,258, as investors braced for a new potential interest rate cut at the next meeting of the Federal Open Market Committee (FOMC) on October 29, following remarks by Federal Reserve Board of Governors member Stephen Miran, who claimed that, while he expects the central bank to cut its rates by 25 basis points at the next meeting, he thinks it should be a 50 basis points cut. Meanwhile, Fed Chair Jerome Powell noted that the Fed's outlook for the US economy appeared similar to the one made in September.
Gold climbed by 1.19% to go for $4,258.09 per ounce at 9:43 am ET, while silver increased by 0.36% at the same time, going for $53.26 per ounce. Meanwhile, platinum advanced by 1.47% to go for $1,693.49 per ounce a minute later, and palladium jumped by 2.18% at 9:44 am ET, going for $1,560.14 per ounce.
Baha Breaking News (BBN) / SM
Live price currently $4259.04