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Gold Hits All Time High $4,420 as Dollar Weakens and Geopolitical Risks Rise

From financemagnates.com

Gold prices rose sharply at the start of the week, reaching a new record. According to live pricing data, spot gold was trading around $4,420 per ounce, up more than 1.7 percent on the day. Market participants pointed to U.S. monetary policy expectations as a key driver. Anticipation of further interest rate cuts by the U.S. Federal Reserve lifted demand for safe-haven assets. Lower yields typically support gold, which does not offer interest income. A weaker U.S. dollar also supported prices. When the dollar falls, gold becomes cheaper for holders of other currencies, which tends to increase demand. Ongoing ... (full story)

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  • Category: Fundamental Analysis