7.8 C
London
Thursday, December 12, 2024
HomeNewsGold Price Breaks New Record at $2300 per Ounce

Gold Price Breaks New Record at $2300 per Ounce

Date:

Related stories

Gazprom Maintains Stable Gas Deliveries to Europe, Sending 42.3 Million m³ on Monday

Brussels, October 14 (FinanceFlashNews.com) – Gazprom, Russia’s gas producer,...

Markets Anticipate Faster ECB Rate Cuts as Eurozone Inflation Falls

Frankfurt, October 14 (FinanceFlashNews.com) – Financial markets are predicting...

Tax Hike in France Will Hurt Investments, Warns Stellantis CEO

Paris, October 14 (FinanceFlashNews.com) – The French government's plan...

Finland’s Inflation Drops to Lowest Level in Nearly Four Years

Helsinki, October 14 (FinanceFlashNews.com) – Year-on-year inflation in Finland...

Moody’s Downgrades Belgium’s Credit Outlook to Negative

Brussels, October 13 (FinanceFlashNews.com) – Moody's Ratings downgraded Belgium’s...

Hong Kong, April 4: The price of gold reached a new record on Thursday, breaking through $2300 per troy ounce (31.1 g). Geopolitical tensions and hints from the US central bank that it will cut interest rates this year, although the exact timing is unclear, continue to drive up the price. TASR reports this based on reports from AFP and Reuters.

Spot gold reached $2304.09 (2136.78 euros) per ounce on Thursday, also breaking the $2300/ounce mark for the first time. It later erased some of its gains and was trading just above $2299/ounce. However, gold has been hitting record highs all last week, with new highs every day since Thursday, March 28.

The rise in gold prices is fueled by news from the US that the central bank still plans to cut interest rates this year. Gold’s popularity is also increasing due to rising geopolitical tensions, with traders watching the Middle East crisis and the ongoing war in Ukraine.

Markets are also waiting for information on the development of the US labor market, which the US Department of Labor will release on Friday, April 5. This could indicate whether the Fed will cut interest rates sooner or later.

Financeflashnewshttps://financeflashnews.com
This article was written by the editorial team of Financeflashnews. We strive to provide you with accurate and up-to-date information from the world of finance and investment. If you find any errors in the article, please let us know at corrections@financeflashnews.com. Your feedback is valuable to us and will help us improve the quality of our content.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories