Gold hits fresh record above $2,300

April 04, 2024 | 14:53

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Gold broke above $2,300 for the first time Thursday as it continued to surge on the back of expectations that US interest rates will come down this year and high geopolitical tensions.

Gold hits record peak, oil rises on geopolitical tensions, photo:VTV.vn

The precious metal has chalked up multiple records over recent weeks as the US Federal Reserve indicates it is about to begin easing monetary policy -- which makes it more attractive to investors.

Its popularity as a safe haven in times of turmoil has also provided plenty of support, with traders fretting over the Middle East crisis and the ongoing war in Ukraine.

On Thursday, bullion touched $2,304.96 per ounce, according to Bloomberg News, after Fed boss Jerome Powell said it would likely be appropriate to cut borrowing costs "at some point this year".

Eyes are now on the release of US jobs figures due at the end of the week, with a weak reading likely to give the Fed room to cut rates sooner rather than later.

Gold hits fresh record above $2,200 on rate cut hopes

Gold rallied to a fresh record above $2,200 on Thursday as traders welcomed a Federal Reserve signal that it would cut interest rates three times this year.

Gold hits another record high on Fed rate cut bets

Gold hit another fresh record high Monday as investors grow confident that the Federal Reserve will cut interest rates this year, even after data showed a slight uptick in a key inflation report.

Gold hits record peak, oil rises on geopolitical tensions

Gold prices hit another historic peak Tuesday and oil extended gains over rising tensions in the Middle East, while stocks wilted as traders worried whether the rally has run its course.

By AFP

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