Insignia Consultants | Gold climbs to record as Fed signals two rate cuts in 2025
Gold climbs to record as Fed signals two rate cuts in 2025
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March 20 (Reuters) - Gold rose to an all-time high on Thursday as the U.S. Federal Reserve hinted at two possible interest rate cuts this year, bolstering bullion's appeal amid ongoing geopolitical and economic tensions.
Spot gold was little changed at $3,048.37 an ounce as of 0350 GMT, after hitting an all-time high of $3,055.96 earlier in the session.
U.S. gold futures gained 0.5% to $3,056.50.
Gold is driven by "a lot of uncertain market situations, geopolitical tensions, weaker U.S. dollar, and expectations that interest rates will be cut later," said Dick Poon, general manager at Heraeus Metals Hong Kong Ltd.
