Gold steady at record levels on central bank moves

Gold prices remained hovering at all-time highs as markets continue to digest key decisions from central banks. The Federal Reserve’s decision to cut interest rates by 50 basis points marked its first rate reduction. This move, aimed at cushioning the U.S. economy, has sparked a rally in gold, as the lower opportunity cost of holding non-yielding assets like gold typically drives demand higher. Additionally, Fed officials indicated another half-percentage-point reduction by the end of the year, reinforcing the bullish outlook for the precious metal.

Read more to find out how will gold trend.