Gold Jumps to Record High on Rate Bets, Weaker US Dollar

Gold scaled another high today, boosted by a softer US dollar and hopes of more interest rate cuts. Spot gold rose 0.2% to $2,661.53 per ounce. Bullion hit an all-time high of $2,670.43 earlier. US gold futures gained 0.3% to $2,686.10. The dollar eased 0.2%, making greenback-priced bullion less expensive for other currency holders. Spot silver fell 0.5% to $31.97 per ounce, platinum edged 0.1% higher to $986.85 and palladium shed 0.6% to $1,050.04. Source: Oman News Agency