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\n Gold prices hovered near record highs on Friday and were poised for a weekly gain, as markets adjusted to the US Federal Reserve’s recent giant interest rate reduction and signs that further cuts were on the horizon.<\/p>\n

Spot gold rose 0.2% to $2,592.17 per ounce, up about 0.6% for the week so far.<\/p>\n

Bullion rose to a record high of $2,599.92 on Wednesday following Fed’s decision on rate cuts.<\/p>\n

Lower US interest rates and geopolitical uncertainty increase the appeal of holding bullion.<\/p>\n

Spot silver rose nearly 1% to $31.09 per ounce, and palladium gained 0.6% to $1,086.75.<\/p>\n

Gold prices hovered near record highs on Friday and were poised for a weekly gain, as markets adjusted to the US Federal Reserve’s recent giant interest rate reduction and signs that further cuts were on the horizon.<\/p>\n

Spot gold rose 0.2% to $2,592.17…<\/p>\n<\/div>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-274918","post","type-post","status-publish","format-standard","hentry","category-production"],"yoast_head":"\nGold Hovers Near Record High on Fed Rate Cut Boost - 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-hovers-near-record-high-on-fed-rate-cut-boost\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold Hovers Near Record High on Fed Rate Cut Boost - Fujairah Updates\" \/>\n<meta property=\"og:description\" content=\"Gold prices hovered near record highs on Friday and were poised for a weekly gain, as markets adjusted to the US Federal Reserve's recent giant interest rate reduction and signs that further cuts were on the horizon. 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