1M gold bars reach record highs due to rising gold prices and potential US Federal Reserve interest rate cuts.
Gold bars worth $1 million have reached new highs due to soaring gold prices, which have increased over 20% year-to-date. This surge could indicate that investors expect the US Federal Reserve to cut interest rates soon. Central banks, including China, are also buying more gold to reduce their dependence on US dollars. Investors view gold as a stable, long-term store of value during economic uncertainty, and as a hedge against inflation, which tends to rise when interest rates fall.
August 19, 2024
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