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\nGold prices stabilized on Thursday, after recording a high record in the previous session, as the Federal Reserve decided to significantly reduce interest rates.<\/p>\n

Gold stabilized at $2,562.85 per ounce, after rising to a record peak of $2,599.92 yesterday, Wednesday.<\/p>\n

The Federal Reserve began its monetary easing cycle yesterday with a larger-than-usual cut of half a percentage point. Federal Reserve Chairman Jerome Powell said that this aims to show policymakers’ commitment to keeping the unemployment rate low after inflation declined.<\/p>\n

As for other precious metals, silver rose in spot transactions by 0.7 percent to $30.26 per ounce, platinum increased by 0.4 percent to $972.06, while palladium fell by 0.2 percent to $1,059.97.<\/p>\n

Gold prices stabilized on Thursday, after recording a high record in the previous session, as the Federal Reserve decided to significantly reduce interest rates.<\/p>\n

Gold stabilized at $2,562.85 per ounce, after rising to a record peak of $2,599.92 yeste…<\/p>\n<\/div>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-274752","post","type-post","status-publish","format-standard","hentry","category-general"],"yoast_head":"\nGold maintains gains after US interest rate cut - Fujairah Updates<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fujairahupdates.com\/gold-maintains-gains-after-us-interest-rate-cut\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold maintains gains after US interest rate cut - Fujairah Updates\" \/>\n<meta property=\"og:description\" content=\"Gold prices stabilized on Thursday, after recording a high record in the previous session, as the Federal Reserve decided to significantly reduce interest rates. 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