Gold hits highest in over three months on expectation Fed will cut interest rate
‘A surge in safe-haven demand has been observed over the past few days because no-one expected the US to open a new trade war front with Mexico’
04 June 2019 - 14:09
Bengaluru — Gold hit a more than three-month high on Tuesday as expectations rose that the US Federal Reserve would cut interest rates to offset the effect on growth of the US-China trade war, fuelling demand.
Lower interest rates cut the opportunity cost of holding nonyielding commodities, while gold also tends to benefit from growth concerns as an alternative to cyclical assets like stocks...
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