The gold price has hit a new record high today, as investors continue to anticipate interest rate cuts this year… and some central banks add to their bullion reserves.
Gold hit $2,353 per ounce this morning, above last Friday’s peak, extending its rally this year.
It has risen from around $2,000 per ounce at the start of this year. Analysts have attributed the rise to expectations of interest rate cuts (which would reduce the return on cash reserves and government bonds, undermining their attraction versus gold).
Signs that central banks have been increasing their gold reserves, led by China, are another factor, as are geopolitical worries.
Via The Guardian
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Morning Briefing
PM vows stable energy supply as inflation gap with euro area widens
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