Gold Prices Reach Historic High Amid Global Economic Uncertainty
United States, 6th Mar 2024, King NewsWire – Gold prices have set a new record, with the spot price reaching $2,141.59 per ounce. This peak surpasses the previous record of $2,135 seen in December. The rise comes amid increasing investor concerns over Middle East tensions and expectations of US interest rate cuts.
The anticipation of a rate cut by the US Federal Reserve, expected in June, has contributed to the surge in gold prices. Lower interest rates enhance the appeal of non-yielding assets like gold.
Since the onset of the Israel-Hamas conflict, gold has increased by over $300 an ounce. Experts suggest it could surpass the $2,300 threshold, depending on future economic and geopolitical events.
Market analysis indicates a 66% probability of a Federal Reserve rate cut in June. Stable ...