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Gold Hits Record $2,530 Amid Fed Rate Cut Speculation and Asian Demand

Investors turn to gold as the U.S. dollar weakens and economic uncertainties persist.

Gold bars sit stacked in this arranged photograph in Hungary. Photographer: Akos Stiller/Bloomberg
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Overview

  • Gold prices reach an all-time high of $2,530 per ounce.
  • Speculation on potential Federal Reserve rate cuts boosts investor interest.
  • Strong demand from India and China continues to drive gold prices upward.
  • The weakening U.S. dollar enhances gold's appeal as a safe-haven asset.
  • Upcoming Federal Reserve communications could influence future gold price movements.