Gold News – 20.Aug.2024

Gold News

Gold Hits Record High: Gold rose above $2,520 per ounce on Tuesday, setting a new record high.

Less-Restrictive Monetary Policies: Expectations of less-restrictive monetary policies by major central banks are driving the demand for safe-haven assets like gold.

US Fed Rate Cut Expectations: Continued disinflation in the US has raised expectations of 100 basis points in rate cuts by the Federal Reserve this year.

Global Central Banks Easing: Other major central banks, including the Swedish Riksbank, PBoC, ECB, and BoE, are also lowering rates, reducing the opportunity cost of holding non-interest-bearing assets like gold.

Author : Arman Shaban
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