Gold and oil prices rose during trading on Thursday, amid fears of significant increases, especially after news that “the Federal Reserve (the US central bank) intends to cut interest rates next week.”
According to Reuters, “He ascended gold Spot gold rose 0.4 percent to $2,521.29 an ounce. U.S. gold futures rose 0.3 percent to $2,548.90.
As for other precious metals, “spot silver rose 0.4 percent to $28.81 per ounce. Platinum rose 0.8 percent to $958.59, and palladium rose 1.5 percent to $1,023.12, its highest level since July 8,” according to Reuters data.
In turn, prices rose. Oil By more than one percent during Thursday’s trading, “Brent crude futures for November rose by $1, or 1.4 percent, to $71.61 a barrel, and US crude futures for October rose by 92 cents, or 1.4 percent, to $68.23 a barrel,” according to Reuters data.
Earlier, the Organization of the Petroleum Exporting Countries (OPEC) cut its forecast for global oil demand growth in 2024 and also trimmed its forecast for next year, in the second downward revision in a row.
Last updated: September 12, 2024 – 10:30
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2024-09-12 18:11:09