Commodities Gold hits near six-year high after Fed signals rate cut Updated : June 20, 2019 11:33 PM IST US gold futures settled 3.6% higher at $1,396.90 per ounce. Lower interest rates decrease the opportunity cost of holding non-yielding bullion and weigh on the dollar, making gold cheaper for investors holding other currencies. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.