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Gold spot prices hit a record high, driven by expectations of a Fed rate cut and increased safe-haven demand.

2024-05-20 08:30:01

Gold hit a new all-time high due to the growing optimism about the US interest rate cut this year and the escalating geopolitical tensions in the Middle East. The price of gold rose 1.4% in the Asian morning session, reaching $2,450.07 per ounce, surpassing the intraday record high set in April. In recent trading days, traders have increased their bets on the earliest possibility of a rate cut by the Federal Reserve in September.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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