Gold prices continue to confirm new records

przedwczorajGold prices have hit a new peak, surpassing the $2,660 per ounce mark, marking a historic milestone as the world grapples with Middle East tensions and signs of weakening in the U.S. economy. By the close of trading on September 24th, spot gold surged by $29, reaching a record-breaking $2,656 per ounce, with intraday highs even touching $2,664.

Several factors have contributed to this rally. U.S. bond yields have significantly dropped, and a weakening U.S. dollar has further boosted the precious metal. As the dollar fell by 0.5% to 100.3 points, gold became more appealing to buyers using other currencies. Moreover, in a low-interest-rate environment, gold— which does not pay fixed interest— shines even brighter. Geopolitical tensions also continue to bolster demand for safe-haven assets, making gold the preferred choice for investors during times of uncertainty.

Amidst global turmoil, gold once again asserts its irreplaceable status!

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