Gold rose more than 1 percent in today’s trading, hitting a new all-time high of $2,452.29.
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Investors turned to safe-haven assets after Fed officials made comments in recent days that bolstered expectations for rate cuts in September. Powell said at an event on Monday that recent inflation data had bolstered policymakers’ confidence that price pressures would remain sustainably low. San Francisco-based central banker Mary Daly also said on Monday that there was “increasing confidence” that inflation was moving toward the U.S. central bank’s 2% target, Reuters reported.
Among other metals, silver rose by 0.1%, platinum by 0.2% and palladium by 0.8%.
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Source: www.portfolio.hu
