The US dollar continues to decline, with COMEX gold hitting a new hist

Published: Mar 21, 2024 08:31

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The US dollar continues to decline, with COMEX gold hitting a new historical high. The overnight decision by the Federal Reserve to maintain interest rates as expected, with policymakers still anticipating three rate cuts in the US this year and a total reduction of 75 basis points by the end of 2024. This news led to a significant drop in the overnight US dollar index, down 0.39%, and continued decline in early trading today, with a 0.14% drop to 103.27 as of 8:28 am. As a result, COMEX gold hit a new historical high of $2225.3 per ounce in early trading today, while COMEX silver rose by 2.99%.

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