London is the most influential hub for the spot gold market, largely because of the London Bullion Market Association (LBMA).
Gold hit a record high above $2,600 per ounce on Friday, as the prospect of more U.S. interest rate cuts and global geo-political uncertainty boosted its appeal.
Gold prices rose on Thursday after hitting a record high in the previous session, as the U.S. Federal Reserve delivered a super-sized interest rate cut.
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