Gold prices rise as the Federal Reserve's policy path draws attention
Jinse Finance reported that gold prices rose on Friday and are set to record gains for the fifth consecutive week, as the market focuses on further clues following the Federal Reserve's announcement of its first rate cut of the year. The Federal Reserve previously lowered its benchmark interest rate by 25 basis points but issued warnings about persistent inflation, causing the market to have doubts about the pace of future easing. After the decision was announced, spot gold briefly touched a record high of $3,707.40 before retreating in volatile trading. Bob Haberkorn, market strategist at RJO Futures, stated, "Gold prices remain quite strong, only pausing slightly after the Fed's rate cut. The bullish trend is unchanged, new highs are inevitable, and we may see $4,000 before the end of the year." Spot silver rose more than 2.2%, and spot platinum increased by 1.4%. Haberkorn said, "What I see is that many investors are now turning to platinum and silver because they are cheaper than gold."
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