Gold prices rose to record new records today, Thursday, and are on track to record their seventh daily rise in a row. The precious metal increased in instant transactions by 0.4% to $2,156.6 per ounce by 08:12 GMT.
Gold received support after Federal Reserve Chairman Jerome Powell indicated that there are likely to be cuts in interest rates in the coming months ‘if the economy develops broadly as expected’ Low interest rates enhance the attractiveness of gold, which does not generate returns.