Gold Prices Reach Record Peak
(MENAFN) The value of gold advanced by 0.7% on Monday, climbing to a record-breaking level of $3,719.95 as of 0630GMT, with investors anticipating further interest rate reductions from the Federal Reserve.
Over the past year, the precious metal fluctuated between $2,536.91 and $3,719.95. Within the same period, it surged by 40.7%.
Prompted by US President Donald Trump's persistence, the Federal Reserve lowered its key policy rate by 25 basis points last week.
Looking ahead to the Federal Reserve’s October and December gatherings, markets are forecasting additional rate cuts.
Sluggish inflation results, rising jobless numbers, and pressure from Trump continue to drive the Federal Reserve toward further reductions in borrowing costs.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
