World gold prices are rising sharply due to two main factors:

Geopolitical tensions: The assassination of a Hamas leader in Iran has increased concerns about conflict in the Middle East, causing investors to seek gold as a safe haven asset.

Expectations of a Fed rate cut: Fed Chairman Jerome Powell has suggested that the central bank may consider cutting interest rates in September if inflation continues to decline. This makes gold more attractive, as low interest rates are often accompanied by rising gold prices.

Experts predict that gold prices may continue to rise sharply in the coming time, possibly even reaching $2,700/ounce.

Gold price is continuously increasing

Aug 02 2024

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