Gold prices touched a record high on Monday as recent economic data boosted bets for interest rate cuts by the U.S. Federal Reserve, while silver followed suit and surged to a more than 11-year high. Spot gold rose 1% to $2,438.41 per ounce, as of 0852 GMT, after hitting a record high of $2,449.89 earlier in the session. Data showed that U.S. consumer prices increased less than expected in April, suggesting that inflation resumed its downward trend in a boost to expectations for a September interest rate cut.
Mainland China and Hong
Kong shares finished higher on Monday, on the back of gold and
non-ferrous metal stocks, with equity investors continuing to
digest Beijing s latest measures to rescue its.
Gold prices touched a record high on
Monday as recent economic data boosted bets for interest rate
cuts by the U.S. Federal Reserve, while silver followed suit and
surged to a more than 11-year high.
.
Chicago wheat prices rose on
Monday, rebounding from losses late last week, with the market
buoyed by concerns about crops in several key exporting
countries including Russia and Ukraine. .
Chicago Board of Trade wheat
futures posted their biggest one-day rally in about 10 months on
Monday as concerns increased over crop losses in the important
Black Sea region, analysts said. . -May 20, 2024 at 12:25 pm EDT
- MarketScreener