Gold prices touch record high after Powell's comments
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Gold prices reached a record high after comments made by Powell. Spot gold was up 0.1% at $2,300.53 per ounce, hitting a record high of $2,302.29 earlier in the session. Bullion has hit record highs consecutively since last Thursday. Hedge funds capped the first quarter with gains across different strategies, as a rally in stocks, some commodities, and the dollar helped the industry weather a less shiny period for bonds. Traders are pricing in a 62% probability that the Fed will begin cutting rates in June. Russia's finance ministry said it would more than double its purchases of foreign currency and gold in the month ahead. Spot silver edged up 0.1% to $27.24 per ounce, platinum rose 0.2% to $938.93, and palladium gained 0.9% to $1,022.50.

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https://m.economictimes.com/markets/commodities/news/gold-prices-touch-record-high-after-powells-comments/articleshow/109019269.cms