Gold prices reached a record high due to investor bets on US interest rate cuts and geopolitical tensions.
Gold prices reached a record high as investors bet on US interest rate cuts in June, following weaker-than-expected economic data. The precious metal rose above $2,100 an ounce, nearing its all-time high of $2,135.39 in December. The increase in gold buying is mainly from hedge funds and money managers, who are anticipating rate cuts and seeking safe-haven assets. Geopolitical and economic tensions are also contributing to the rise in gold prices.
March 04, 2024
11 Articles