Reported about 2 months ago
Gold prices are surging past $2,500 an ounce following Federal Reserve Chair Jerome Powell's indication of upcoming rate cuts at the Jackson Hole symposium. This shift in monetary policy, combined with declining yields and renewed interest from Western investors, has positioned gold as a strong asset. Hedge funds are increasing bullish bets, and inflows into gold-backed ETFs are on the rise. Analysts predict that prices could ultimately reach $3,000 by mid-2025, fueled by the potential for further demand amid expected economic volatility.
Source: YAHOO