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NewsBreak: Gold Futures Hold Above $1,500 as Fed Again Cuts Rates

Published 09/19/2019, 02:17 AM
Updated 09/19/2019, 02:46 AM
© Reuters.
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Investing.com - Gold futures held above the key $1,500 an ounce level on Wednesday after the Federal Reserve announced the second in U.S. interest-rate cut for this year, trimming rates by 25 basis points as it did in July.

U.S. gold futures for December delivery settled up $2.40, or 0.2%, at $1,515.80 per ounce on the Comex division of the New York Mercantile Exchange, before the Fed announcement, in anticipation of the rate cut. At 2:35 PM ET (18:05 GMT), the contract traded at $1,506 an ounce, down $7.30, or 0.5%.Spot gold, reflective of trades in bullion, traded below $1,500.

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