Skip to main content

MoneyWorks4Me

Gold futures trade higher on Monday

16 Sep 2024 Evaluate

Gold futures traded higher on Monday, supported by a weaker US dollar and on the prospect of a more aggressive rate reduction by the US Federal Reserve at its upcoming policy meeting. All eyes will be on the Federal Reserve this week as speculation mounts over the extent of interest rate cuts and the pace of future reductions at its monetary policy meeting.

Gold futures for December delivery up by $3.4 or 0.13% to $ 2614.1 per ounce on the Comex division of the New York Mercantile.