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NewsBreak: Gold Futures Hold Above $1,500 as Fed Again Cuts Rates

Published 09/18/2019, 02:17 PM
Updated 09/18/2019, 02:52 PM
© Reuters.

Investing.com - Gold futures held above the key $1,500 an ounce level on Wednesday after the Federal Reserve announced the second in U.S. interest-rate cut for this year, trimming rates by 25 basis points as it did in July.

U.S. gold futures for December delivery settled up $2.40, or 0.2%, at $1,515.80 per ounce on the Comex division of the New York Mercantile Exchange, before the Fed announcement, in anticipation of the rate cut. At 2:35 PM ET (18:05 GMT), the contract traded at $1,506 an ounce, down $7.30, or 0.5%.Spot gold, reflective of trades in bullion, traded below $1,500.

Latest comments

people are confused, they say everything is fine but cutting rates and talking about QE. Actions usually mean more than words. Do you think he would tell us if things were about to fall apart, of course not. It's his job to keep the train going.
Not above now
The Fed cut and will continue to cut. What has changed?
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