Gold Prices Hit Record Highs Amid Speculation of U.S. Rate Cuts

Gold Prices Hit Record Highs Amid Speculation of U.S. Rate Cuts
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Gold prices surged again on Tuesday, reaching a record US $3,755 per ounce, up 0.22% by 07:30 GMT, according to Anadolu Agency.

Over the past year, gold’s value has climbed about 42.8%, having ranged between US $2,536.91 and US $3,755, according to the report. The rise is being driven in part by market expectations that the U.S. Federal Reserve will resume cutting interest rates later this year.

Weak inflation data and increasing unemployment figures are among the factors pushing those expectations, the article notes.