Gold prices surged to a record high on Monday, driven by a weaker U.S. dollar. The Federal Reserve’s recent move towards lowering interest rates and the potential for further cuts this year could boost gold’s appeal, which offers no yield. Additionally, escalating tensions in the Middle East may drive investors to safe-haven assets like gold.
This week, the Federal Reserve cut interest rates for the first time since March 2020, which was well-received by stock-market investors. With inflation cooling, this move sets the stage for a smooth economic recovery.
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