Gold News – 21.Aug.2024
Gold News
Gold Hits Record High: Gold prices surged to a new record high of $2,530 per ounce on Tuesday, before settling near $2,515 on Wednesday.
Interest Rate Cut Expectations: Optimism surrounding potential interest rate cuts by the US Federal Reserve, expected in September, is driving gold prices higher. Markets anticipate a cut between 25 to 50 basis points.
Geopolitical Tensions: Ongoing geopolitical risks, particularly in the Middle East, are contributing to the demand for gold as a safe-haven asset.
Central Bank Holdings: A standard 400-ounce gold bar, like those held by central banks, now exceeds $1 million in value.
Author : Arman Shaban
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