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Post by : Badri Ariffin
On Monday, gold prices soared to new heights, fueled by growing investor confidence that the US Federal Reserve will persist with interest rate cuts into the next year.
The precious metal hit an intraday high of $4,383.76 during early trading, driven by renewed optimism following recent US economic reports. These indicated softening labor market conditions and cooling inflation, reinforcing the argument for further monetary easing by the central bank.
With lower interest rates, gold becomes increasingly appealing, as it does not yield interest compared to other investments.
This surge on Monday surpassed the previous record of $4,381.52 last seen in October, marking a significant milestone against a backdrop of growing global economic uncertainty.
Investors remain attentive to upcoming economic indicators and policy cues from the Federal Reserve, as expectations for extended rate cuts continue to drive gold's upward momentum.
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