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Gold Prices Continue To Decline Amid Expectations Of Interest Rate Cuts
(MENAFN- The Peninsula)
QNA
New York: Gold prices continued to decline on Tuesday, after hitting a new record high in the previous session, supported by strong safe-haven demand amid expectations of a rate cut by the Federal Reserve.
Spot gold fell 2.1 percent to $4,264.91 per ounce, after hitting an all-time high of $4,381.21 yesterday.
US gold futures also fell 1.9 percent to $4,278.50 per ounce.
Spot silver fell nearly 4.3 percent to $50.19 per ounce, while platinum fell 2.8 percent to $1,592.65. Palladium lost 4 percent to $1,440.73.
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