Gold Hits All-Time High as Fed Rate-Cut Hopes Bolster Appeal

GOLD - JAKARTA. Gold prices rose more than 1% to hit a record high on Thursday, helped by expectations of an interest rate cut by the Federal Reserve next week after U.S. data signalled a slowing of the economy.

Spot gold was up 1.7% at $2,554.05 per ounce, as of 02:10 p.m. ET (1810 GMT). U.S. gold futures settled 1.5% higher at $2,580.60.