Gold reaches record high on rate cut expectations
2024-05-19T08:32:15+00:00
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.
