Economy
After Fed's rate cut, gold price hit record level
Gold and silver prices up around 1% on Friday following Fed's rate move
Gokhan Ergocun |
20.09.2024 - Update : 20.09.2024
ISTANBUL
Following the US Fed's more-than-expected rate cut on Thursday, gold price saw historical high levels on Friday.
The ounce price of gold was at $2,607 level as of 0750GMT, gaining around 1% in value day-on-day.
The Fed cut the interest rate by 50 basis points on Thursday, around double of market expectations.
Silver price per ounce also increased by around 1.3% on Friday versus Thursday to $31.18.
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