Gold Prices Soar to Unprecedented Heights Amid Anticipation of Fed Rate Cuts Gold prices reached a new zenith on Monday, continuing their upward trajectory fueled by expectations of a U.S. Federal Reserve rate cut and the enduring allure of gold as a haven during uncertain times. The spot price of gold climbed 0.6%, reaching $2,245.79 per ounce, while U.S. gold futures surged over 1% to $2,266.39 per ounce. Joseph Cavatoni, a market strategist at the World Gold Council, described this as a thrilling time for gold, attributing the rally to growing investor confidence in the anticipated Federal Reserve cuts. Market observers are keenly anticipating rate reductions by the U.S. Federal Reserve, possibly in May or June, further stoking the bullish sentiment in the gold market. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts World Gold Council Survey: 29% of Central Banks to Increase Gold Holdings in 2024 READ MORE How Much Gold Do I Need To Retire? 1oz Per Month? READ MORE Gold Prices Soar to New Heights Defying Critics READ MORE Gold Expected to Shine Amid Uncertainty: World Gold Council at BMO Conference READ MORE Powell Warns of Extended High Interest Rates in Face of Persistent Inflation READ MORE Add a Comment Cancel replyYour email address will not be published.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