Gold rallies to record high on softer dollar, rate-cut expectations

Gold prices hit fresh high, and an analyst says it's a sign recession is on the way

Spot bullion climbed as much as 2.2% Friday, exceeding the previous record set last month.

Why gold prices just hit a new record

Three investors of the "Big Short" said they remained bullish on gold for the long-run.Srinophan69/Getty ImagesThe price of spot gold topped $2,500 per ounce on Friday, a new all-time high.The metal is rising on confidence that interest-rate cuts are imminent.The precious metal could eventually reach $2,900, one analyst projected.The price of spot gold climbed past $2,500 an ounce to a new record on Wednesday.The precious metal has rallied more …

Gold reached a new historic level on Friday, of $2,492.55 an ounce, reports AFP, quoted by News.ro. On Friday, around 13:30 GMT (16:30 Romanian time), the price of an ounce of gold increased by 1.27% to $2,488.10, after the publication of gloomy data on the construction of new homes in the United States. On Friday, the National Bank of Romania showed a rate of 358.61 lei/gram of gold, in insignificant decrease compared to the previous day.

Gold hits record high on softer dollar, rate cut hopes, Middle East tensions

Gold prices rose to an all-time high due to a weaker dollar, growing expectations for a US interest-rate cut in September, and Middle East geopolitical tensions

Gold rallies to record high on softer dollar, rate-cut expectations

Gold prices soared to an all-time high on Friday as the dollar weakened on growing expectations for an interest-rate cut from the Federal Reserve in September, and as tensions in the Middle East bolstered demand for bullion.

Gold Hits A Record High

The price of gold hit a record high of $2,492.55 an ounce on Friday as investors snapped up the haven investment in the face of a likely US interest rate cut and heightened geopolitical risks.