Historic record for gold: Surpassed $2,240
Driven by expectations of interest rate cuts in the US and demand for safe-haven assets, gold has broken a historic record, surpassing $2,240.
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Gold has reached a record level, exceeding $2,240. The primary factors behind this rise are the growing expectations for interest rate cuts in the US and the emergence of safe-haven demand.
Experts note that investors are adjusting their positions ahead of the holiday and increasing their trading activities toward the end of the month.
They state that if expectations for a Fed interest rate cut increase, gold could rise even further and has the potential to hold at these high levels. However, they also warn that there are signs that buying momentum may be exhausted in the near term.
It is also emphasized that the continuation of geopolitical tensions on a global scale plays a significant role in the rise of gold.