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 Investment Giants Turn to Gold as Hedge Against Economic Uncertainties READ MORE U.S. Treasury to Boost Long-Term Debt Sales READ MORE MAS Singapore Gold Vault READ MORE Druckenmiller Makes Bet on Gold Miners READ MORE Walmart and Target Cut Prices Amid Persistent Inflation Concerns READ MORE Add a Comment Cancel replyYour email address will not be published.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