Gold rallied for a second day on Tuesday, hitting a record high early, then churning until it finally settled more than 1 percent higher after the Federal Reserve boosted Wall Street with a plan to keep US rates low. The spot price of gold, which tracks trading in bullion, was around $1,737 an ounce late Tuesday afternoon, up about 1.2 percent from Monday's close.
It traded above $1,750 after the Fed statement and hit a record high above $1,778 earlier. Spot gold priced in euros, sterling and yen also hit record highs. US gold futures for December delivery stood just above $1,740 in late trade on the New York Mercantile Exchange's COMEX metals division. It rose above $1,750 post-Fed and hit a record high above $1,782 earlier.
December gold settled Tuesday's official trading session at $1,743, versus Monday's $1,713.20. Among other precious metals, silver fell around 3.5 percent on the day to just below $38 an ounce. Platinum rose about 2 percent to around $1,748 an ounce, while palladium climbed 2.7 percent to around $734 an ounce.
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