Gold futures glitter on second-highest close

The yellow metal may hit the US$2,500 per ounce milestone, says one analyst. (Image: Supplied)

Thu, 18 Jul 2024

By Joseph Hoppe Gold futures reached a record high in Asian trading on Wednesday as US rate-cut hopes grow, Treasury yields fall, and geopolitical tensions mount – and they look set to climb even higher.August gold futures on the New York Mercantile Exchange climbed 0.3%, settling at US$2,454.80 (NZ$4,036) a troy ounce, its second-highest closing high. Prices reached as high as US$2,487.40 earlier in the session. The prior record was US$2,477 an ounce, set on May 20, before a sharp selloff followed.The new record follows several...

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