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Gold reaches record high on rate cut expectations

Gold reaches record high on rate cut expectations
Gold reaches record high on rate cut expectations

2024-05-19 12:00:06 - From: Shafaq News


Shafaq News / Gold prices closed at a record level of $2414 per ounce at the end of last week's trading, buoyed by increased expectations of a US interest rate cut.

Inflation data further bolstered expectations that the Federal Reserve may lower interest rates this year.

Furthermore, central banks worldwide intensified their purchases of the yellow metal as a haven amid geopolitical tensions.