Gold hits a new record high. Investors growing more confident that the US Federal Reserve will cut rates this year.
There was a great demand for buying gold this year, while the US Central Bank hinted at the possibility of easing credit conditions. Gold prices tend to rise as a safe haven in times of turmoil in the face of increasing geopolitical tensions, and in light of fears of the expansion of the war launched by Israel in Gaza. The price reached a new high of $2,256.73 per ounce, according to Bloomberg.