Gilded Heights: Gold Prices Hit Unprecedented Highs Fueled by Rate Cut Buzz and Dollar’s Dip
Gold prices soared to an unprecedented peak on Monday, driven by mounting anticipation of forthcoming interest rate reductions, a weakened dollar, and escalating geopolitical tensions. The value of the precious metal surged by up to 3% during Monday’s trading session, reaching $2,135 per ounce, surpassing the prior record of $2,072 set in August 2020. However, prices retreated later in the day, settling at $2,023 by 11:57 a.m. ET. In recent weeks, investor confidence has grown, speculating that the US Federal Reserve, having effectively curbed inflation through assertive interest rate hikes,…
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