Gold Breaks Historic $2,500 Ceiling as Fed Rate Cut Looms Gold reached an unprecedented milestone, surpassing $2,500 per ounce for the first time on August 16, 2024. This historic surge was primarily driven by expectations of imminent interest rate cuts from the Federal Reserve, following disappointing US housing data. The precious metal’s value has increased by over 20% in 2024, buoyed by a combination of factors including geopolitical tensions, anticipated monetary policy shifts, and strong demand from central banks. Analysts predict that gold’s performance will continue to be influenced by the Fed’s rate decisions, ongoing global conflicts, and economic indicators, with some experts forecasting further price increases in the coming quarters. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Crude Edges Higher as Hurricane Francine Threatens U.S. Output READ MORE Wall Street Optimism Grows as Jefferies Reports 59% Jump in Deal Revenue READ MORE Gold Soars to New Heights as Markets Await Powell's Jackson Hole Address READ MORE Chinese Gold Trading EXPLODES READ MORE Record Start to 2024: Companies Ramp Up Share Repurchases READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment