Gold prices were steady in Asian trade on Thursday, closing at an all-time high as attention focused on the Federal Reserve chairman’s upcoming speech, although key US economic indicators showed weakness.
For industrial metals, prices remained somewhat acceptable due to additional stimulus measures in China. It is the largest importer, and copper prices remained stable after two months of increases.
While gold futures ended at $2,685.0 an ounce in December, spot gold rose 0.2% to $2,661.78 an ounce. On Wednesday, spot prices hit a one-time high of $2,670.52.
A number of central bank chiefs and the Federal Reserve chairman expressed their views this week after approving the central bank’s interest rate cuts since last week. However, they have sent conflicting messages about the bank’s intention to cut rates. More statements from central bank officials are expected in the coming days.
