AGE Daily Gold Update

AGE Daily Gold Update presents a recap on today's action in the precious metals markets. View archives.

3/19/2025: Gold inches higher after Fed

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold edged up less than 0.1% to hold at a record high near $3,036 as the Fed signaled two more rate cuts this year despite concerns about higher inflation and slower economic growth. Silver shed 1.7% to finish at $33.98 an ounce.

At the close of its two-day meeting on monetary policy, the Fed left interest rates unchanged, as expected. But the central bankers said uncertainty about the economic outlook has increased, given sticky inflation and unsettling Trump administration trade policies.

Notably, committee members are still penciling in two quarter-point rate cuts for this year. Fed fund futures trading lifted the odds of a June cut to 62% from 57% yesterday.

Benchmark 10-year Treasury yields crept lower on the rate cut prospects, lifting gold by decreasing the opportunity cost for holding it instead of bonds.

The dollar pared gains after the Fed decision but still rose 0.3% against major rivals, capping gold's rise by making it pricier in other currencies.

Platinum and palladium dropped 0.6% and 0.7%, respectively.

At the New York spot close: gold gained 80 cents to $3,035.90; silver lost 60 cents to $33.98; platinum slid 5.60 to $997; and palladium shed ^.50 to $967.10 an ounce.