The value of gold hit a new record as markets increasingly bet that interest rates will be cut early next year.
Gold rose above $2,111 an ounce for the first time in Asian trading hours, before falling back to $2,086.
There was no obvious catalyst for the move, leaving dealers suspecting that some traders were jumping onto the bandwagon after the precious metal broke $2,107 last week.
Global central banks also bought a net 800 metric tons of gold in the year to September, a record for the period, with many expecting the price to top $2,240 or $2,400.
Markets are pricing in aggressive interest rate cuts next year, which is also delivering a boost to gold, which is considered a safety net against inflation.
Traders are betting there is a 59pc chance of a US interest rate cut as early as March, up from 20pc a week ago.
Read the latest updates below.
https://news.google.com/rss/articles/CBMiamh0dHBzOi8vd3d3LnRlbGVncmFwaC5jby51ay9idXNpbmVzcy8yMDIzLzEyLzA0L2Z0c2UtMTAwLW1hcmtldHMtbmV3cy1saXZlLWdvbGQtcHJpY2UtaGlnaC1pbnRlcmVzdC1yYXRlcy_SAQA?oc=5
2023-12-04 06:50:45Z
2645776767
Tidak ada komentar:
Posting Komentar