Gold prices hit all-time high on Monday
- 20 May 2024
Picture used for illustrative purposes.
Gold prices hit an all-time high on Monday as a slowing US inflation trend boosted expectations that the Federal Reserve could deliver its first interest rate cut soon, while silver scaled a more than 11-year peak, Reuters reported.
Spot gold was up 0.9% at $2,436.76 per ounce as of 0340 GMT after hitting a record high of $2440.49 earlier in the session.
Also, spot silver rose 2.5% to $32.28 after hitting an over 11-year high.
Platinum rose 0.7% to $1,088.75 after hitting its highest since 12th May 2023. Palladium dropped 0.5% to $1,013.56.
WAM