Gold Soars to Unprecedented Highs as Fed Policy Shifts

The price of gold has surged to a new historic peak, with the precious metal reaching an all-time high of $3,759.02 per troy ounce. This powerful rally shows no signs of abating, fueled by clear signals of interest rate cuts from the U.S. Federal Reserve and a concurrent weakening of the U.S. dollar.

A key driver behind the surge is last week’s decision by the Federal Reserve to lower its key interest rates by 25 basis points, the first such cut this year. This shift in monetary policy has made non-yielding gold instantly more attractive to investors. Spot gold was last quoted at $3,743.39 after breaching the historic $3,759.02 level. Meanwhile, U.S. gold futures for December delivery gained 0.1%, reaching $3,779.50.

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