{"id":137670,"date":"2024-10-18T09:08:22","date_gmt":"2024-10-18T09:08:22","guid":{"rendered":"https:\/\/kinesis.money\/?p=137670"},"modified":"2024-10-18T09:08:25","modified_gmt":"2024-10-18T09:08:25","slug":"gold-climbs-ecb-rate-cuts","status":"publish","type":"post","link":"https:\/\/kinesis.money\/es\/market-analysis\/gold-news\/gold-climbs-ecb-rate-cuts\/","title":{"rendered":"Gold Price News: Gold Climbs To New Highs as ECB Cuts Rates"},"content":{"rendered":"\n

Gold prices pushed up to another all-time high on Thursday, after an interest rate cut by the European Central Bank and increased interest in safe-haven assets.<\/p>\n\n\n\n

Prices climbed as high as $2,697 an ounce on Thursday \u2013 a fresh all-time high for gold. That compared with around $2,675 an ounce in late trades on Wednesday.<\/p>\n\n\n

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\"gold
KAU\/USD 1-hourly Kinesis Exchange<\/figcaption><\/figure>\n<\/div>\n\n\n

Rate cut supports gold prices<\/h2>\n\n\n\n

The ECB on Thursday cut interest rates by 25 basis points to 3.4% as expected, marking the third cut since May. The cut came as inflation in the Eurozone fell to 1.7% in September \u2013 falling below the ECB\u2019s target of 2% for the first time in more than three years. Lower interest rates tend to support gold as they reduce the opportunity cost of holding non-yielding assets.<\/p>\n\n\n\n

Geopolitical risk keeps gold supported<\/h2>\n\n\n\n

The wider background continues to look supportive for gold, due to falling interest rates, heightened geopolitical risk due to conflict in the Middle East and Ukraine, and uncertainty over the outcome of the November 5 US election. A win for Republican party candidate Donald Trump could usher in an environment of increased protectionism and trade tariffs \u2013 an outcome that is potentially supportive of safe havens like precious metals.<\/p>\n\n\n\n

Gold\u2019s continued march into higher territory came despite rising US treasury yields and a stronger US dollar on Thursday \u2013 both of which would normally weigh on gold prices.<\/p>\n\n\n\n

Key economic data points to watch<\/h2>\n\n\n\n

The markets will be watching out for speeches by several US Fed officials on Friday and Monday, for further clues about interest rate changes at the central bank\u2019s upcoming meeting on November 7.<\/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 pushed up to another all-time high on Thursday, after an interest rate cut by the European Central Bank and increased interest in safe-haven assets. Prices climbed as high as $2,697 an ounce on Thursday \u2013 a fresh all-time high for gold. That compared with around $2,675 an ounce in late trades on Wednesday. […]<\/p>\n","protected":false},"author":50,"featured_media":137717,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[215],"tags":[],"class_list":["post-137670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-news"],"acf":[],"yoast_head":"\nGold Price News: Gold Climbs To New Highs as ECB Cuts Rates - Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' gold price news analysis for today, Friday 18th of October 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=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold Price News: Gold Climbs To New Highs as ECB Cuts Rates\" \/>\n<meta property=\"og:description\" content=\"Discover Kinesis' gold price news analysis for today, Friday 18th of October 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/kinesis.money\/market-analysis\/gold-news\/gold-climbs-ecb-rate-cuts\/\" \/>\n<meta property=\"og:site_name\" content=\"Kinesis\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-18T09:08:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-18T09:08:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/kinesis.money\/wp-content\/uploads\/2024\/10\/gold-news-feature-gold-climbs-to-new-highs-as-ecb-cuts-rates.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1058\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Frank Watson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:description\" content=\"Discover Kinesis' gold price news analysis for today, Friday 18th of October 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta name=\"twitter:label1\" content=\"Escrito por\" \/>\n\t<meta name=\"twitter:data1\" content=\"Frank Watson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Tiempo de lectura\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutos\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/kinesis.money\/market-analysis\/gold-news\/gold-climbs-ecb-rate-cuts\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/kinesis.money\/market-analysis\/gold-news\/gold-climbs-ecb-rate-cuts\/\"},\"author\":{\"name\":\"Frank Watson\",\"@id\":\"https:\/\/kinesis.money\/#\/schema\/person\/11c4884f9d074d6831f53e287228bf52\"},\"headline\":\"Gold Price News: Gold Climbs To New Highs as ECB Cuts Rates\",\"datePublished\":\"2024-10-18T09:08:22+00:00\",\"dateModified\":\"2024-10-18T09:08:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/kinesis.money\/market-analysis\/gold-news\/gold-climbs-ecb-rate-cuts\/\"},\"wordCount\":278,\"image\":{\"@id\":\"https:\/\/kinesis.money\/market-analysis\/gold-news\/gold-climbs-ecb-rate-cuts\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/kinesis.money\/wp-content\/uploads\/2024\/10\/gold-news-feature-gold-climbs-to-new-highs-as-ecb-cuts-rates.jpg\",\"articleSection\":[\"Gold News\"],\"inLanguage\":\"es\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/kinesis.money\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/kinesis.money\/market-analysis\/gold-news\/gold-climbs-ecb-rate-cuts\/\",\"url\":\"https:\/\/kinesis.money\/market-analysis\/gold-news\/gold-climbs-ecb-rate-cuts\/\",\"name\":\"Gold Price News: Gold Climbs To New Highs as ECB Cuts Rates - 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