Reported 23 days ago
Gold prices surged to a record high of $2,589.03 per ounce as investors anticipate the Federal Reserve’s first rate cut in over four years during its upcoming meeting. This increase follows a 3.2% gain last week and is buoyed by a softer US dollar and heightened global geopolitical tensions. Analysts suggest that the magnitude of the rate cut—whether 25 or 50 basis points—will signal the Fed's stance on the economy's health, reinforcing gold's appeal as a non-interest-bearing asset amidst uncertainty.
Source: YAHOO