Ahead of the Federal Reserve's interest rate decision, gold futures closed at a new high
2025-09-16 18:59:44
Gold futures prices hit another record close in recent days, continuing to rise on expectations of an imminent interest rate cut by the Federal Reserve. Gold futures rose 0.2 per cent to $3,688.90 an ounce, marking the third consecutive session in which recent contracts hit a record high. Bank of America said in a report that economic data pointed to current financial conditions favouring gold. "Concerns about stagflation - often bullish for gold - remain a focus for precious metals market participants," the bank said. Bank of America also said that August's consumer price index (CPI) reading of 2.9 per cent was also supportive for gold. "Since 2001, with US CPI above 2 per cent and Fed monetary easing, gold prices have not fallen."
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