🚨Gold prices hit record high above $2,700; Copper buoyed by China 🇨🇳

Gold prices continued to hit record highs on Wednesday, driven by optimism over potential lower U.S. interest rates, which weakened the dollar. Spot gold rose 0.3% to $2,670.52 an ounce, with futures reaching $2,694.75. The Federal Reserve's recent rate cuts and expectations for further reductions have supported gold, as lower rates reduce the opportunity cost of holding non-yielding assets.

Copper prices remained mixed after reaching two-month highs, fueled by stimulus hopes from China. While traders expect Chinese demand to rise, analysts believe more fiscal support is needed to sustain growth. Meanwhile, other metals like platinum and silver showed slight declines despite recent gains.

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