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Investor Outlook: Gold prices climb to record highs as China and central banks boost demand
Gold surged to a record Tuesday, lifted by expectations of further U.S. Federal Reserve rate cuts and renewed flows into exchange-traded funds. Analysts say central bank buying and investor fear of missing out are also fuelling the rally. Bart Melek, managing director and global head of commodity strategy at TD Securities, says China and other nations are steadily building reserves, underscoring a shift in global holdings. He also notes silver remains supported by tight supply and strong industrial demand. Gold is the story of the day, reaching a new record high. There are expectations of additional interest rate ... (full story)