The prospect of an interest rate cut by the U.S. Federal Reserve has prompted investors to move money out of bonds and into gold, pushing the price of the precious metal to a record high.
As of 10:28 a.m. on Friday (September 13), the spot price of gold stood at $2,564.31; Gold futures were trading at $2,592.50.
In early December, US stocks staged their most dramatic intraday reversal in months. Driven by the dual positive catalysts of chip giant NVIDIA's better-than-expected earnings report and a "Goldilocks" nonfarm payrolls report, the S&P 500 index surged as much as 1.9% within the first hour of trading.
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