Key Points
(Reuters) Gold struck a record high on Tuesday, moving further above $2,100 per ounce in a rally sparked by growing bets for a U.S. interest rate cut in June, with safe haven demand from war in the Middle East also tipping the scales in bullions favour...
EDT (1539 GMT), having scaled a record $2,141.59 earlier..
Geopolitical risks emanating from the Red Sea and a year with a dense election calendar globally will likely see continued strength in retail demand for gold, said Nitesh Shah, commodity strategist at WisdomTree...
We wouldnt be surprised if gold gives back some of these gains as the Federal Reserve talks down imminent cuts, but once rate cuts look certain, we expect gold to trade significantly higher...
The non-yielding metal is pressured when high interest rates to tame inflation raise returns on competing assets such as bonds and boost the dollar, making gold costlier for overseas buyers...
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Mounting US rate cut bets push gold to record highs
05, Mar, 24By Anjana Anil and Ashitha Shivaprasad (Reuters) - Gold struck a record high on Tuesday, moving further above $2,100 per ounce in a rally sparked by growing bets for a U.S. interest rate cut in June,