Gold News – 17.Oct.2024

Gold News

Gold reached around $2,680 per ounce, hitting record highs due to favorable conditions.

A dovish outlook from major central banks and lower bond yields increased demand for gold.

The Federal Reserve is expected to cut rates twice this year, with a 25-basis-point cut likely in November.

The ECB is anticipated to cut rates, and falling UK inflation suggests a possible BoE rate cut next month.

Several Asian central banks have also recently lowered rates.

Geopolitical uncertainties, including the US presidential election and escalating tensions between Israel and Lebanon, are further supporting gold prices.

Author : Arman Shaban
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