Expectations of a Fed rate cut push gold to $2,500, setting a new record high

Gold price hits record high of $2,500 as Fed rate cut expectations

2024-08-16

[Expectations of Fed rate cuts push gold to $2,500, a new record high] Spot gold broke through $2,500/ounce, setting a new record high. Amid the Fed's upcoming restart of the rate cut cycle, intensified geopolitical conflicts, and rising uncertainty in the US election, gold prices have recently resumed their upward trend, rising 21% so far this year.

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Gold price hits record high of $2,500 as Fed rate cut expectations

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