Gold Prices steady after Fed policymakers back rate cuts

Gold prices held their ground on Tuesday (Sep 24), after hitting an all-time high in the previous session, following comments by US Federal Reserve officials that backed additional interest rate cuts in the future.

Spot gold was steady near US$2,625.52 per ounce, as at 0023 GMT. Bullion hit a record high of US$2,635.29 on Monday. US gold futures edged 0.1 per cent lower to US$2,650.30.

US policymakers’ comments were in focus after the Fed last week began an easing policy with a half-point rate cut. Read more at the Business Times article here.