Gold rallies to another record high

WAM

Gold prices rallied to a record high on Thursday as Federal Reserve officials reiterated expectations of interest rate cuts in 2024.

Spot gold was steady at $2,299.28 per ounce as of 0343 GMT and hit a record high of $2,304.09 earlier in the session. Bullion has hit record highs in each session since last week's Thursday.

Spot silver fell 0.5 per cent to $27.08 per ounce, platinum edged down 0.1 per cent to $935.39 and palladium was up 0.4 per cent at $1.017.83.

More from Business

  • India reviewing allegations of antitrust breaches by IndiGo

    India's competition regulator said on Thursday it was reviewing allegations of antitrust violations by budget airline IndiGo following recent flight disruptions that hit air travel nationwide.

  • DXB and DWC boost winter schedules with new routes

    Dubai Airports has entered the winter travel season with one of its strongest networks in history, as Dubai International (DXB) and Dubai World Central - Al Maktoum International (DWC) welcome new airlines and expanded connectivity to meet rising seasonal travel demand.

  • Amazon in talks to invest in OpenAI

    Amazon.com IncĀ is in discussions to invest in OpenAI, the developer of ChatGPT, in a potential deal that could value the artificial intelligence company at over $500 billion, a source familiar with the matter said on Tuesday.

  • DXB to welcome over 4.2 million guests over next two weeks

    Dubai International Airport (DXB) is gearing up to accommodate a surge in travellers over the next two weeks, marking one of the busiest travel periods of the year.

Coming Up