Gold regained ground Wednesday, driven by investor expectations of a possible interest-rate cut by the U.S. Federal Reserve, while silver reached a record high.
On the spot market, gold rose 0.4% to US$4,222.22 per ounce, after having lost more than 1% in the previous session. U.S. December gold futures increased by 0.8% to US$4,252.90 per ounce.
Recent U.S. economic data showing a modest economic slowdown have reinforced expectations of a monetary-policy easing at the Fed’s December 9–10 meeting — a backdrop favourable to non-yielding assets such as gold.
Meanwhile, silver climbed 0.4%, reaching US$58.73 per ounce, after peaking at US$58.94 earlier in the session. Platinum gained 0.3% to US$1,638.34 per ounce, while palladium remained stable at US$1,462.27 per ounce.
