Reported about 9 hours ago
Gold prices hover close to an all-time high of $2,937 per ounce, driven by weak US economic reports that have spurred haven demand. The demand for bullion-backed exchange-traded funds surged, while expectations of interest rate cuts by the Federal Reserve increased following reports of slowed business activity and waning consumer confidence. Analysts predict continued support for gold as inflation concerns peak, leading some to raise their year-end target for the metal.
Source: YAHOO