Precious metals rise after Fed rate cut

Thursday, 19. September 2019 15:29

Prices of precious metals were on the rise on Thursday after the United States Federal Reserve cut the interest rates by 0.25 basis points. US sovereign securities grew while the dollar advanced against most major counterparts. Meanwhile, the US Department of Labor reported initial jobless claims increased by 2,000 compared to the previous week's figure.

Gold traded 0.55% higher against the dollar at 9:27 am ET, changing hands for $1,502.38. At the same time, the price of silver per ounce jumped 0.84% to $17.90. Platinum gained 0.66% to $938.10 a minute later, while platinum surged 1.17% against the greenback to $1,609.76 concurrently.

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Breaking the News / MD