Gold hits a new record high with interest rate cuts expected to continue
Report The US Federal Reserve reduced Interest during the coming year.
A series of data over the past week showed declines in the labor market in the United States and a slowdown in inflation, which is likely to prompt the US Central Bank to further soften its monetary policy.
Enhancing the demand for gold
A series of factors in the past months, such as government paralysis in the United States, the trade war launched by President Donald Trump, and geopolitical risks, have fueled investors’ demand for gold, which constitutes a safe haven in light of… Decline in confidence in the dollar.
The price of the yellow metal reached $4,381 and 52 cents per ounce in October, an increase of 67% compared to the beginning of the year.
But it quickly declined by 5% due to profit-taking by investors.
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