Gold rallies to another record high

WAM

Gold prices rallied to a record high on Thursday as Federal Reserve officials reiterated expectations of interest rate cuts in 2024.

Spot gold was steady at $2,299.28 per ounce as of 0343 GMT and hit a record high of $2,304.09 earlier in the session. Bullion has hit record highs in each session since last week's Thursday.

Spot silver fell 0.5 per cent to $27.08 per ounce, platinum edged down 0.1 per cent to $935.39 and palladium was up 0.4 per cent at $1.017.83.

More from Business

  • DoH awards research projects over AED19 million to transform AD healthcare

    The Department of Health – Abu Dhabi (DoH), in partnership with the Authority of Social Contribution - Ma’an, has awarded over AED19 million in grants to support advancements in groundbreaking fields such as cell and gene therapies, precision medicine, and advanced cancer treatments.

  • UAE, Italy sign MoU to combat financial, economic crimes

    The UAE General Secretariat of the National Anti-Money Laundering and Combatting Financing of Terrorism and Financing of Illegal Organisations Committee (GS-NAMLCFTC) and the Italian Guardia di Finanza on Friday signed a Memorandum of Understanding for a strategic partnership in the fight against the emerging financial crime threats.

  • Putin says there is no time to sign new Ukraine gas transit deal this year

    President Vladimir Putin said on Thursday there was no time left this year to sign a new Ukrainian gas transit deal, and laid the blame firmly on Ukraine for refusing to extend the agreement that brings gas to Slovakia, the Czech Republic and Austria.

  • New tax programme for government employees

    Dubai Finance (DOF) and PwC Academy, the talent and skills development arm of PwC Middle East, have announced a strategic partnership to introduce a new Tax Professional Certificate aimed at tax professionals working within Dubai’s government entities.

  • Brazil says workers at BYD construction site victims of human trafficking

    Chinese workers found at a construction site for a factory owned by China's electric vehicle producer BYD in Brazil's Bahia state are victims of human trafficking, Brazilian labor authorities said on Thursday.