Gold Breaks $2600 Following US Fed Rate Cut

Gold prices surpassed the $2600 mark for the first time ever today, continuing their upward trajectory since the Federal Reserve's decision to cut interest rates.Spot gold rose 1.3 percent to $2620.63 per ounce, while U.S. gold futures gained 1.2 percent to $2646.20. Gold prices have increased by 27 percent since the beginning of this year, marking the largest annual increase since 2010.As for other precious metals, silver spot prices increased 1.2 percent to $31.16 per ounce, while platinum declined 1.1 percent to $978.50, and palladium fell 0.5 percent to $1074.84.Source: Qatar News Agency