ING: Gold tops $2,500 for the first time Gold prices reached an unprecedented milestone, surpassing $2,500 per ounce for the first time on August 16, 2024. This historic surge was primarily driven by expectations of imminent interest rate cuts from the Federal Reserve, following disappointing US housing data. The precious metal’s value has increased by over 20% in 2024, buoyed by a combination of factors including geopolitical tensions, anticipated monetary policy shifts, and strong demand from central banks. Analysts predict that gold’s performance will continue to be influenced by the Fed’s rate decisions, ongoing global conflicts, and the upcoming US presidential election, with prices expected to remain elevated in the short to medium term. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts HBAR – Real World Asset Tokenization is Here READ MORE Zimbabwe's New Gold-Backed Currency Marks Promising Start READ MORE GoldSilver Infographic: History of Money and Currency in the USA READ MORE Major Win for Consumers: Credit Card Late Fees Reduced by CFPB Ruling READ MORE Green Bonds Gleam with Promise as Interest Rates Set to Tumble READ MORE Add a Comment Cancel replyYour email address will not be published.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