Gold Skyrockets as Stars Align for Fed Rate Cuts

GOLD - NEW YORK. Gold prices powered higher on Friday, beating record levels, as a boost in bullish momentum fuelled by optimism that the U.S. Federal Reserve is on the brink of trimming interest rates was catalysed by fund inflows and a drop in the dollar.

Spot gold was trading at record levels, up 0.7% at $2,576.48 per ounce by 10:10 a.m ET (1410 GMT). U.S. gold futures rallied 1% to $2,605.30.