Gold bars sit in a vault at the Perth Mint Refinery, operated by Gold Corp, in Perth, Australia, on August 9, 2018.
Gold hit a record high on Wednesday, boosted by a softer U.S. dollar and hopes of more interest rate cuts, while investors looked for new signals for the Federal Reserve's interest rate trajectory.
Spot gold was steady at $2,658.08 per ounce, as of 0557 GMT, after hitting an all-time high of $2,670.43 earlier.
On Tuesday, China announced a slew of support measures including outsized rate cuts, after the U.S. Fed cut rates by 50 basis points last week.
Inflows to gold exchange-traded funds, particularly from Western investors, will rise in the coming months, providing further support for record-high bullion prices, analysts said.
Persons:
Gold, Kelvin Wong, OANDA's, Wong, Michelle Bowman, Jerome Powell's, heightening
Organizations:
Perth Mint Refinery, Gold Corp, U.S, Fed, Asia Pacific, Traders
Locations:
Perth, Australia, China, Beirut