The price of gold on the stock exchange hit a record high: according to trading data, the price of gold futures for December rose to $2,650 per ounce. The growth comes after the US Federal Reserve System (FRS) lowered the key rate.
Author:
https://rb.ru/author/bilyk/
Subscribe to RB.RU on Telegram
The price of gold on the stock exchange during the trading session on September 20 reached $2,651 per ounce, a record high. At the close of trading, the price had fallen to $2,647.1, according to data from the Chicago Board of Trade.
The US Federal Reserve cut its key rate by 50 percentage points to 4.75-5% on September 18. The US regulator last lowered the rate in 2020 to support the economy amid the COVID-19 pandemic.
The rate cut also boosted the stock market: the day before the regulator made the decision, the S&P 500 index, which tracks the capitalisation of the largest companies listed on US stock exchanges, hit a record high of 5,670.8 points. The Dow Jones Industrial Average also hit a new high, exceeding 41,835 points.
Along with gold, products are becoming more expensive: the price of Arabica coffee futures reached the highest since 2011 due to concerns about the potential volume of the crop in Brazil, one of the world’s main suppliers of coffee beans.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
