Gold Price Hits Record High Due to Expectations of Lower US Interest Rates
The price of gold surged to a record high on Tuesday, driven by trader speculation of a decrease in US interest rates amidst cooling inflation.
During late afternoon trading in London, gold peaked at $2,462.54 per ounce, surpassing the previous record established in May.
One possible explanation for the rise in gold prices could be the uncertainties in the global market due to geopolitical tensions or concerns over economic stability, which often drive investors towards safe-haven assets like gold.
