Gold has been on a tear since mid-February as investors wager that it stands to benefit from the impending pivot by the Fed . Gold set another record high , rising above US$2,300 an ounce on the likelihood the US Fed eral Reserve will cut interest rates in 2024 and sustained demand from central banks . Bullion touched a peak of US$2,304.
96 an ounce before trading little changed as investors took comfort in Fed chair Jerome Powell’s assurance on April 3 that it will likely be appropriate to begin lowering borrowing costs “at some point this year”. Silver held near the highest level in almost three years. Lower rates are generally positive for non-yielding precious metals. Gold has been on a tear since mid-February – setting a record each day so far this week – as investors wager that it stands to benefit from the impending pivot by the Fe
Gold Record High Fed Interest Rates Central Banks
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