Gold Rises After Fed Cuts Rates, Silver Hits Record

Group 1 - Gold prices increased following a 25-basis points interest-rate cut by the Federal Reserve, with futures rising 0.4% to $4,241.90 per troy ounce and spot gold gaining 0.5% to $4,338.77 per ounce [1] - Silver futures also saw a significant rise, climbing 2.2% to $62.39 per ounce after reaching a record high of $63.25 earlier [1] Group 2 - Both gold and silver are on track for their strongest annual performance since 1979, with gold prices up more than 60% and silver prices more than doubling [2] - The surge in prices is attributed to heavy central-bank demand, rising ETF inflows, and a shift by investors away from sovereign bonds and currencies [2]