Gold prices hit record high on weaker US dollar, Fed rate cut bets; Bullion up 2.4%.

From Google: 2024-08-16 12:06:02

Gold prices hit a record high as the US dollar weakens and investors bet on a Federal Reserve rate cut. Bullion saw a 2.4% increase in just five days, following the surge in the stock market.

The softer US dollar has contributed to gold’s rise, with investors believing a Fed rate cut is likely. Gold prices have gained 2.4% in the last five days, showing strong growth amidst economic uncertainty.



Read more at Google: Gold hits record-high on softer US dollar after Wall Street lifts Fed rate cut bets; Bullion up 2.4% in five days | Stock Market News – Mint