Reported 20 days ago
Gold prices reached a record high of $2,600.16 an ounce after the Federal Reserve cut interest rates by half a percentage point for the first time since 2020. However, after Chairman Jerome Powell indicated that there is no urgency to lower rates further, gold prices pulled back to $2,552.77. Analysts believe that the potential for recession and ongoing low rates will continue to push gold higher, reflecting the metal's traditional role as a safe haven in uncertain economic times.
Source: YAHOO