{"id":132203,"date":"2024-09-20T08:10:41","date_gmt":"2024-09-20T08:10:41","guid":{"rendered":"https:\/\/kinesis.money\/?p=132203"},"modified":"2024-09-20T08:10:41","modified_gmt":"2024-09-20T08:10:41","slug":"gold-fresh-ath-rate-cut","status":"publish","type":"post","link":"https:\/\/kinesis.money\/de\/market-analysis\/gold-news\/gold-fresh-ath-rate-cut\/","title":{"rendered":"Gold Price News: Gold Hits Fresh All-Time High After US Rate Cut"},"content":{"rendered":"\n

Gold prices spiked to hit a new all-time high on Thursday, as the markets digested the US Fed\u2019s major interest rate cut on Wednesday.<\/p>\n\n\n\n

The precious metal broke above the $2,600 threshold and went as high as $2,612 an ounce<\/a> on Thursday, compared with around $2,562 an ounce in late trades on Wednesday.<\/p>\n\n\n\n

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KAU\/USD 3-monthly chart Kinesis Exchange <\/figcaption><\/figure>\n\n\n\n

Gold\u2019s previous record high of $2,600 an ounce was on Wednesday, following the US Fed\u2019s decision to cut interest rates by 50 basis points \u2013 the first cut since March 2020. However, prices fell lower later on Wednesday to notch up a modest day-on-day decline.<\/p>\n\n\n\n

Most of the market had expected the Fed\u2019s move, but there were uncertainties over the size of the cut. Recent gains for gold suggested the market had correctly anticipated the Fed\u2019s move. The market\u2019s natural focus will be on the possibility of further loosening of US monetary policy in the remainder of the year, making economic data key for the future path for interest rates.<\/p>\n\n\n\n

In addition, the US dollar rose initially on Thursday against other major currencies, creating a headwind for gold, although the greenback fell back later in the session which may have helped gold\u2019s rebound.<\/p>\n\n\n\n

Elsewhere, the Bank of England held interest rates steady at 5% on Thursday, having already cut by 25 basis points in August.<\/p>\n\n\n\n

Looking ahead, Friday will see Euro Area consumer confidence figures, followed by a speech by ECB President Christine Lagarde, for the latest readings on the EU economy.<\/p>\n\n\n\t\t\t

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Frank\u2019s experience<\/a> covering the commodities markets spans 22 years, with a particular specialism in metals, carbon and energy markets.\u00a0<\/em>He has worked as a senior editor for S&P Global Commodity Insights\u00a0(formerly Platts) and before this, at ICIS-LOR, a part of Reed Business Information (Reed Elsevier), where he covered the petrochemicals markets from 2003 to 2005.<\/em><\/p>\n

This publication is for informational purposes only and is not intended to be a solicitation, offering or recommendation of any security, commodity, derivative, investment management service or advisory service and is not commodity trading advice. This publication does not intend to provide investment, tax or legal advice on either a general or specific basis.<\/i>
\n<\/i><\/p>\n

Read our Editorial Guidelines\u00a0<\/i>here.<\/a><\/i><\/p>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t","protected":false},"excerpt":{"rendered":"

Gold prices spiked to hit a new all-time high on Thursday, as the markets digested the US Fed\u2019s major interest rate cut on Wednesday.<\/p>\n","protected":false},"author":50,"featured_media":132234,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[215,91],"tags":[],"class_list":["post-132203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-news","category-market-analysis"],"acf":[],"yoast_head":"\nGold Hits Fresh All-Time High After US Rate Cut | Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' gold price news analysis for today, Friday 20th of September 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"de_DE\" \/>\n<meta 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