2024-03-05 12:05:42 ET
Summary
- Gold prices hit a record high of over $2,100 per ounce due to economic uncertainty and expectations of lower interest rates.
- Traders are confident that interest rates will drop by June, leading to increased bets on gold in the futures market.
- The Federal Reserve's actions and important economic reports will impact gold prices and the overall economy.
Fundamentals:
On Tuesday, the price of gold went way up, hitting over $2,100 per ounce in New York, a record high. This happened because a lot of big economic things are going on in the world right now that are making investors very interested in gold....
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For further details see:
Golden Storm: The Epic Rise Of Gold Prices To Uncharted Heights