PT Solid Gold Berjangka | Gold Rallies To Record High On Softer Dollar, Rate-Cut Expectations
GOLD SOLID GOLD BERJANGKA, SG BERJANGKA , SOLID GROUP, PT SGB , SGB
Solid Gold Berjangka | Gold prices surged to an all-time high on Friday, as the dollar weakened on speculation of an interest rate cut by the Federal Reserve in September and as tensions in the Middle East boosted demand for bullion.
Spot gold was up 1.7% at $2,498.72 per ounce by 2:27 p.m. EDT (1827 GMT). U.S. gold futures settled 1.8% higher at $2537.80. Bullion rose 2.8% for the week.The dollar index fell 0.4%, recording its fourth weekly decline.
Federal Reserve Chairman Jerome Powell is scheduled to speak on the economic outlook next Friday, the first day of the Kansas City Fed’s annual economic symposium in Jackson Hole, Wyoming.The Producer Price Index and Consumer Price Index for July released this week show subdued inflation and the Fed may cut interest rates by 25 basis points next month.
Source Reuters