Gold Prices Soar to Historic Levels
(MENAFN) Gold prices surged 1.49% on Monday, reaching a historic peak of $3,819.8 at 0700 GMT, marking a significant milestone in the precious metal's market.
Over the past 12 months, gold has fluctuated between $2,536.91 and $3,819.8, reflecting a remarkable 41.5% increase during this period.
The latest rally in gold prices can be attributed to several factors, including rising geopolitical risks, global economic uncertainties, heightened demand for gold from central banks, and the Federal Reserve’s ongoing rate-cut cycle.
The upward momentum followed a 25 basis point reduction in the Fed’s policy rate last week, a move pushed by US President Donald Trump.
With expectations of further rate cuts in the Fed’s upcoming October and December meetings, market participants are closely monitoring economic indicators. Weak inflation figures, growing unemployment data, and pressure from Trump have all played a role in influencing the central bank's decisions to lower interest rates.
Over the past 12 months, gold has fluctuated between $2,536.91 and $3,819.8, reflecting a remarkable 41.5% increase during this period.
The latest rally in gold prices can be attributed to several factors, including rising geopolitical risks, global economic uncertainties, heightened demand for gold from central banks, and the Federal Reserve’s ongoing rate-cut cycle.
The upward momentum followed a 25 basis point reduction in the Fed’s policy rate last week, a move pushed by US President Donald Trump.
With expectations of further rate cuts in the Fed’s upcoming October and December meetings, market participants are closely monitoring economic indicators. Weak inflation figures, growing unemployment data, and pressure from Trump have all played a role in influencing the central bank's decisions to lower interest rates.
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