Gold Hits Record High as Dollar Weakens

Gold prices reached a record high this Tuesday, supported by the weakening of the dollar ahead of the Federal Reserve meeting this week. There is significant anticipation of interest rate cuts.

The spot price of gold rose 0.1% to $3680.17 per ounce by 01:09 GMT. It had previously reached an all-time high of $3689.27 earlier in the session.

U.S. gold futures for December delivery remained steady at $3718.80.

Among other precious metals, silver held steady in the spot market at $42.71 per ounce, while platinum dipped by 0.1% to $1399.40. Palladium, on the other hand, increased by 0.4% to $1188.59.