Rare earth magnet producer MP Materials Corp. secured a $400 million equity investment from the US Department of Defense to build a new plant, with a $1 billion financing commitment from JPMorgan Chase & Co. and Goldman Sachs Group Inc. The shares soared.
A record share of the world’s central banks plans to accumulate more gold over the next 12 months, drawn by bullion’s performance during times of crisis and protection against inflation.
Gold steadied as investors pulled away from risky assets and waited for more clues on the Federal Reserve’s rate path.
Gold climbed to a fresh record high, as trade-war worries bolstered haven demand and there were continued signs of short-term tightness in the market.
Money managers are seeing plenty of reasons to remain bullish on gold, following a stellar 2024 that saw the precious metal post its biggest annual gain since 2010.
Gold tumbled as traders digested Donald Trump’s pick of Scott Bessent as Treasury Secretary and looked toward the Federal Reserve’s next interest-rate decision.
Gold retreated after hitting a fresh record as investors weighed remarks from policymakers ahead of a key jobs report due Friday.
Gold surged above $2,200 an ounce for the first time as investors grew more confident about the Federal Reserve’s path for rate cuts, boosting the appeal of non-interest bearing bullion.
