Gold Rally Continues nearing $2,500 with Traders Betting on Fed Rate Reductions Gold reached a record high, nearing $2,500 per ounce, as traders anticipated Federal Reserve rate cuts due to cooling inflation. This surge, driven by large central bank purchases, strong consumer demand in China, and geopolitical tensions, saw gold prices rally 1.9% on Tuesday. Although Chris Weston from Pepperstone Group suggests gold might test $2,500 soon, some indicators hint at an overbought market. Additionally, political uncertainty, including a recent assassination attempt on Donald Trump, is impacting market sentiment, potentially reinforcing gold’s safe-haven appeal amid escalating trade tensions. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts US Budget Gap Widens 16% in First Four Months of Fiscal Year READ MORE Gold Rises on Rate Cut Expectations Before Inflation Data READ MORE Interest Rate Outlook: Fed Plans Cautious Cuts After Inflation Assessment READ MORE LBMA and WGC Push for Gold's Upgrade to HQLA Status Under Basel III READ MORE Record-Breaking July for CME Group: 24.8 Million Contracts Traded Daily READ MORE Add a Comment Cancel replyYour email address will not be published.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