Gold hits record high on US rate cut optimism
Gold prices surged to an all-time high on Monday as growing confidence that the US Federal Reserve will continue cutting interest rates boosted investor demand for the precious metal.
In early trading, gold reached $4,383.76, driven by recent economic data showing continued weakness in the US labour market and signs that inflation is easing. These developments have strengthened expectations that the central bank has room to further loosen monetary policy.
The latest rally lifted gold above its previous record of $4,381.52, which was set in October, underscoring the metal’s strong momentum amid shifting interest rate outlooks.
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