Gold Soars to New Heights as Central Banks and Investors Pile In Gold prices reached new heights on Tuesday, driven by strong demand from central banks and investors anticipating a Federal Reserve rate cut. The precious metal’s value has surged over 23% this year, touching record levels above $2,525 per ounce for spot gold and $2,560 for futures contracts. This rally is fueled by central banks’ record gold purchases, geopolitical tensions increasing its safe-haven appeal, and expectations of lower interest rates. Analysts predict further price increases, with UBS Global Wealth Management forecasting gold to reach $2,600 per ounce by the end of 2024. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts US Wholesale Inflation Hits Annual High, Signaling More Price Hikes Ahead READ MORE Poll: Two-Thirds of Middle-Class Americans Struggle Financially READ MORE Zimbabwe Eyes Gold-Backed Currency to Fortify Financial Stability READ MORE Oil Prices Set for Stability in 2024, Say Industry Experts READ MORE China Unleashes Bold Measures to Rescue Property Market Crisis READ MORE Add a Comment Cancel replyYour email address will not be published.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