April 24, 2024

Brighton Journal

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Gold prices hit a new record high amid expectations of a Fed cut

Gold prices hit a new record high amid expectations of a Fed cut

Gold bullion and coins.

Bright Stars | E+ | Getty Images

Gold prices continued to rise and rose to another record high on Monday, driven by expectations of US interest rate cuts and the metal's appeal as a safe-haven asset.

The spot price of gold rose 1.32% to trade at $2,265.53 an ounce. US gold futures rose more than 2% to trade at $2,286.39 an ounce.