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 IMF's Brighter Global Outlook: U.S. Strength and China's Stimulus Lead the Charge READ MORE Gold Rallies on Mixed US Employment Report, Fed Rate Cut Hopes Grow READ MORE Caixin PMI Shows Surge in China Manufacturing, Despite Global Challenges READ MORE Fed Expected to Hold Rates Steady READ MORE Central Bank Gold Purchases Surge to 33 Tons in April READ MORE Add a Comment Cancel replyYour email address will not be published.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