Gold Prices Rise As Investors Seek Safe Haven Amid Rising
Gold Prices Rise As Investors Seek Safe Haven Amid Rising вђ Flickr Gold’s uptrend continues after hitting a new all-time high (ATH) at $2,625 Even though all the signs point upwards, the rally of the golden metal seems overextended, opening the door for a pullback Gold prices advanced on Thursday after the Federal Reserve (Fed) embarked on an easing cycle with a 50-basis-point (bps) rate cut Traders ignored the rise of US Treasury yields, which correlate
Gold Prices Rise To 6 Month High As Investors Seek Safe Haven The Fed move, which lowered interest rates to the range of 475%-5%, is part of a broader anticipated easing cycle, with two more cuts being expected in 2024 Gold is one of the most vital metals in the world and a unique asset, with the ability to enhance portfolio diversification, act as store of value, and hedge against systemic risk Gold prices hit a new high on Friday amid a weakened dollar and simmering tension in the Middle East, a day after it jumped to a record following the US Federal Reserve's first interest rate cut in Geopolitical Tensions May Renew Safe-Haven Demand for Gold Amid economic concerns developments could support gold prices, as investors seek stability in uncertain times
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