Gold pices surge on Fed rate cut

Gold prices increased in early trading at 6:22 GMT on Thursday, after the US Federal Reserve delivered a super-sized interest rate cut.

Spot gold prices surged by 0.76 per cent to $2,578.30 per ounce, compared to the previous day’s closing price of $2,559.38. US gold futures gained 0.18 per cent to $2,602.55, compared to the previous day’s closing of $2,598.6.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama