Gold News – 25.Sep.2024

Gold News

Gold prices extended their record run on Wednesday, briefly hitting $2,670 per ounce before pulling back below $2,660.

Lower interest rates, following the Federal Reserve’s rate cut last week, and escalating tensions in the Middle East contributed to gold’s price surge.

The Middle East tensions, specifically Israel’s attack on Hezbollah targets, boosted gold’s safe-haven appeal.

Gold remains a preferred investment during geopolitical and economic uncertainty, with lower returns from fixed-income assets like bonds making gold more attractive.

There is potential for gold to snap its four-day winning streak if it closes in red after today’s reversal.

Author : Arman Shaban
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