FLASH
Shkruar nga Pamfleti
The price of gold has risen to a record high, boosted by rising expectations of a U.S. interest rate cut, investors seeking assets and months of extraordinary buying by central banks and Chinese investors.
The yellow metal rose to $2,141 an ounce on Tuesday, beating the previous record high of $2,135 set in December, according to LSEG data, before soon paring gains to trade up 0.8 percent. to $2,131 per day.
Tuesday's move represents a continuation of a rally sparked Friday by rising hopes for a June Federal Reserve rate cut following weaker economic data.
Gold, a low-yielding asset, benefits from lower borrowing costs as investors feel they haven't lost as much by not putting their money into bonds.
Gold has been on a 16-month rally, rising 30 percent from just above $1,600 an ounce by the end of 2022, largely supported by record buying by central banks in emerging markets as the U.S. 'weaponized' the dollar in its sanctions against Russia.
Lini një Përgjigje