Overview

• Spot gold price surged past $2,500 per ounce, marking a new all-time high.
• Anticipation of a Federal Reserve interest rate cut in September has bolstered gold's appeal.
• Geopolitical tensions in the Middle East and Europe have increased demand for the safe-haven asset.
• The U.S. dollar weakened, making gold more attractive to international buyers.
• Analysts project gold could climb further, potentially reaching up to $2,900 per ounce.