Gold price hits record high driven by rate cut expectations
ChainCatcher news, according to Golden Ten Data, gold prices have once again reached a new all-time high, with spot gold prices rising by 0.9% to $3,508.73 per ounce, surpassing the peak in April. So far this year, gold has risen by more than 30%, making it one of the best-performing commodities. The prospect of a Federal Reserve rate cut and concerns about its future have provided new support for the rally in precious metals. Investors seek safe havens during periods of political and economic turmoil, which has supported gold prices.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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