Gold Price Soars Past $2,200 as Fed Signals Rate Cuts Gold’s price climbed past $2,200 an ounce, marking a historic first propelled by investor optimism regarding the Federal Reserve’s stance on interest rate cuts. This optimism has significantly bolstered the attractiveness of gold, which does not yield interest. The metal’s price spiked to an all-time high of $2,220.89, reflecting a surge of over 10% since mid-February. This rally is largely attributed to anticipations of a more lenient U.S. monetary policy, enticing investors to place their bets on gold. Despite the rapid pace of this rally, the Federal Reserve’s recent announcement, maintaining its plan for three rate cuts within the year and its tolerance towards the current inflation and labor market conditions, has reinforced bullish sentiments among gold traders, according to Chris Weston of Pepperstone Group Ltd. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Anticipation Ahead of Fed Meeting Leads to Decline in Treasury Yields READ MORE Illicit Gold Trade from Africa to UAE Exceeds $23 Billion Annually READ MORE Gold Prices are Dropping. CBSNews Shares 5 Good Reasons to Invest Now READ MORE Dollar Strengthens Against Yen Despite Japan's Intervention Threats READ MORE Zimbabwe Faces Deflation with New ZiG Currency READ MORE Add a Comment Cancel replyYour email address will not be published.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