Gold prices reached a new historical peak, exceeding $2.15 thousand per ounce for the first time in history at an auction in New York. This is evidenced by data on the exchange website. comex.
Currently the cost of an ounce has reached $2153 +(0.51). As of 17:45, the price of the metal rose to $2151.1 (+0.42%).
“Rising expectations of low interest rates, which have increased the appeal of non-yield bullion following recent weak economic data in the US, and fears of an imminent correction in equity markets, have led to strong demand for alternative asset classes such as: Bitcoin and gold,” he said. Reuters Commerzbank analyst Carsten Fritsch.
On the other hand, UBS analysts expect that the spot price of gold will reach $ 2,250 per ounce by the end of 2024, with the Fed reducing interest rates by mid-year, with the support of central bank purchases and demand from China.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.