Gold Price News By Adrian Ash – Friday 12th July 2024
The PRICE of GOLD hit a new week-end record in London's bullion market today, setting a 3pm Friday benchmark above $2405 per Troy ounce as betting that the US Federal Reserve will soon start cutting interest rates grew again following yesterday's soft inflation data.
Global stock markets also rose, shrugging off US claims of a Russian plot to assassinate the CEO of a major German weapons suppler to Ukraine and setting a new high on the MSCI World Index as US President Joe Biden ended the Nato summit in Washington by calling Kamala Harris – his running mate for November's election – "Vice President Trump" and calling Ukraine's leader Volodymyr Zelensky "President Putin".
Western government bonds held onto yesterday's price jump, keeping the annual rate of interest offered by 10-year US Treasury debt beneath 4.20%, the lowest since end-March.
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