Gold price hits new record as hopes of more Fed rate cuts spur demand
In an unprecedented turn of events, the price of gold has hit an all-time high. This new record has been catalyzed by increasing hopes of further rate cuts by the Federal Reserve. Investors globally are gravitating towards gold as a safe haven during these times of financial uncertainty.
The Federal Reserve’s expected policy to lower interest rates has played a significant role in pushing up gold’s appeal. Lower interest rates decrease the opportunity cost of holding non-yielding bullion while weighing on the U.S. dollar, making gold cheaper for holders of other currencies.
Amidst the economic climate, potential rate cuts, and the ongoing U.S. – China trade war, the gold market is glowing bright. This surge in gold prices illustrates investors’ need for greater security in their investments as the looming economic uncertainty continues. Read More
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