Gold Price Soars to Record High Amid U.S. Federal Reserve Interest-Rate Cut Speculation

SOURCE www.nasdaq.com
Gold reaches record high as traders bet on U.S. Federal Reserve interest-rate cut due to Middle-East war, with spot gold climbing 1% to $2,136.69 per ounce.

Key Points

  • Traders are betting on a start to interest-rate cut by the U.S. Federal Reserve in June.
  • Investors are pouring money into gold as the Middle-East war continues.
  • Spot gold reached $2,136.69 per ounce, a 1% increase.

Pros

  • Gold is seen as a safe haven asset during times of economic turmoil.
  • Central bank easing tends to push down bond yields and the dollar, making gold more attractive.