Gold rises 1.4% ahead of Fed's decision7 Nov 2024 18:16
The prices of most precious metals grew on Thursday, with gold soaring over 1%, as market focus shifted towards the United States Federal Reserve's upcoming announcement regarding monetary policy scheduled for later in the day.
The Fed is anticipated to cut the federal funds target range by 25 basis points to 4.5%-4.75%. However, market participants are likely to pay close attention to any indications regarding the central bank's strategy for the remainder of the year, particularly considering the re-election of former US President Donald Trump.
Gold jumped 1.40% at 10:38 am ET, going for $2,697.96. At the same time, silver advanced by 2.02%, selling at $31.83. At 10:39 am ET, platinum gained 0.32%, going for $992.21, while palladium lost 0.95%, trading at $1,020.92.
Baha Breaking News (BBN) / RR
Gold currently $2696.80