2024-07-17 07:30:00 ET
Summary
- Gold prices reach a new record high of $2465/oz, driven by post-CPI and rate cut optimism.
- Despite a resurgent US Dollar, gold’s upward momentum remains strong, briefly dipping before rallying to new highs.
- June’s US retail sales figures and an upward revision of May’s data had minimal impact on gold’s rally and market expectations for Fed rate cuts.
By Zain Vawda
Gold prices continue to ride the wave of post-CPI and rate cut optimism as the precious metal nears its previous all-time high around the $2450/oz mark....
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Gold Hits Record High Of $2465/Oz Despite Positive U.S. Retail Sales Data