India, Sept. 3 -- Gold prices moved sharply higher on Wednesday, extending yesterday's surge and hitting a new record high amid increasing expectations of an interest rate cut by the Federal Reserve later this month.
Front Month Comex Gold for September delivery jumped $43.80 (or 1.23%) to $3,593.20 per troy ounce. After trading up for six consecutive sessions, this is a new record closing high for gold.
Front Month Comex Silver for September delivery shot up by 47.10 cents (or 1.15%) to $41.542 per troy ounce.
An Appeals Court in the US, last Friday ruled that President Donald Trump's tariffs on multiple trading partners are illegal. The administration is preparing to appeal the verdict to the US Supreme Court and reportedly planning to...