Reported 2 days ago
Gold prices hit a record high of $3,585 per ounce following disappointing job growth in August, where only 22,000 new jobs were added compared to the expected 75,000. This has heightened expectations for a potential interest rate cut by the Federal Reserve, making gold an attractive safe-haven investment amid concerns over economic instability and Fed independence. Despite fluctuations, gold remains strong with support at around $3,590 as investors await upcoming inflation data.
Source: YAHOO