Gold reached yet another high, supported by growing anticipation of more rate cuts from the US.

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Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

Gold climbed to yet another record on Tuesday, bolstered by increased expectations of further US rate cuts, with investors awaiting Federal Reserve Chair Jerome Powell’s speech later in the day for further policy cues.

Spot gold shot up nearly 1% to set a new all-time high of $3,790.64 per ounce, before pulling back below the $3,770 level.

Meanwhile, US gold futures broke past the $3,800 barrier, trading 0.9% higher at $3809.1 an ounce.

Source: newsthemegh.com