Gold prices hit another record high after fresh U.S. data spurs Fed cut expectations
Publishing timestamp: 2024-04-01 10:18:30
Summary
Gold prices hit record high due to U.S. interest rate cut expectations and safe haven appeal. Market watchers expect Fed to cut rates in June. Gold prices tend to rise as interest rates fall. Central banks are buying gold to diversify reserve portfolios. China is leading driver for gold demand.
Sentiment: POSITIVE
Keywords: business news, inflation, central banking, gold comex (apr'23), commodity markets, united states, gold / us dollar spot, prices,
Source: https://www.cnbc.com/2024/04/01/gold-prices-hit-new-record-high-on-fed-cut-expectations.html