_gold-prices-surge-above-362440-on-rate-cut-speculations.jpg "Gold Prices Surge Above $2,440 on Rate Cut Speculations from lower definition verb Video Screenshot Preview")
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⏲ Duration: 0:33
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✓ Published: 21-May-2024
👁 View: 185K times
✓ Published: 21-May-2024
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Gold prices hit an all-time high of $2,440 per ounce on expectations that the Federal Reserve will cut interest rates soon to address slowing US inflation. A weaker US dollar and comments from Fed officials hinting at rate cuts have boosted sentiment for gold as lower rates reduce the opportunity cost of holding non-yielding bullion. Market analysts say gold is benefiting from its appeal as an inflation hedge, though slowing inflation data has increased bets the Fed will ease monetary policy.
Gold prices hit an all-time high of $2,440 per ounce on expectations that the Federal Reserve will cut interest rates soon to address slowing US inflation. A weaker US dollar and comments from Fed officials hinting at rate cuts have boosted sentiment for gold as lower rates reduce the opportunity cost of holding non-yielding bullion. Market analysts say gold is benefiting from its appeal as an inflation hedge, though slowing inflation data has increased bets the Fed will ease monetary policy.
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