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Gold: Heading Towards New Record Levels
Ahead of important events and influential data, gold prices moved towards new record highs as investors continue to bet on the metal. This is considered a safe haven in anticipation of a rate cut by the US Federal Reserve in June. According to gold trading platforms, prices have moved towards the resistance level of $2120 per ounce, just $15 away from the all-time high of $2135 recorded in December 2023. Also, US gold futures traded 1.4% higher at $2128.70 an ounce.In this regard, Ryan McKay, senior commodity analyst at TD Securities, said: “We still believe that the price may rise as well.” He added to Bloomberg ... (full story)