Gold prices bolted to an all-time high above $2,100 per ounce on Monday as Federal Reserve Chair Jerome Powell’s remarks elevated traders’ confidence that the U.S. central bank could cut interest rates early next year.
Spot gold XAU= was up 0.7% at $2,085.76 per ounce by 0353 GMT. Earlier in the session, bullion surged to an all-time high of $2,111.39.
Powell on Friday said “the risks of under- and over-tightening are becoming more balanced,” but the Fed is not thinking about lowering rates right now.
London-listed company KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focused on gold and copper deposits in the highly prospective Arabian-Nubian Shield. The Company operates in Ethiopia and Saudi Arabia with projects including Tulu Kapi project, Jibal Qutman EL and Hawiah.