Gold prices hit an all-time high after the Fed rate cut

Gold prices set new records. The price of the December gold contract on the Chicago Mercantile Exchange (CME) rose 1.25% to $2,624.9 per ounce on Wednesday, September 18.

The price of the precious metal rewrote the historical record after the US Fed's decision to cut the interest rate by 50 bps. This happened for the first time in more than four years. The regulator kept the rate at the level of 5.25-5.5% per annum from July 2023. For more than a year, the rate in the US has been at its highest level in more than 20 years.