Gold Prices Climb Following Fed's Rate Cut Predictions

Gold prices experienced a notable increase, rising by 1% on Thursday. This surge comes in the wake of statements made by Federal Reserve Board of Governors Member Christopher Waller, who anticipates three to four rate cuts by the Fed in 2025. The precious metal was trading at $2,724.42 per ounce by 12:38 pm ET, marking a 1.04% increase.

Silver and Platinum Also See Gains

Similarly, silver prices saw an uptick, climbing 0.83% to $30.97 per ounce. Platinum wasn't far behind, with a modest increase of 0.16% to $942.86 per ounce at 12:39 pm ET. However, not all precious metals followed this upward trend.

Palladium Bucks the Trend

In contrast, palladium prices fell by 1.19%, trading at $934.60 per ounce by 12:40 pm ET. This divergence highlights the varied responses within the precious metals market to the Federal Reserve's monetary policy outlook.