• Sat, Feb 7, 2026|
  • JKT --:--
  • TKY --:--
  • HK --:--
  • NY --:--

Indonesia News Portal for Traders | Financial & Business Updates

24 September 2024 02:04  |

Gold Finds New Record Amid Geopolitical Turmoil

Increasing turmoil around the world, including the escalating fighting between Israel and Hezbollah, has gold prices pushing up to a fresh record -- with front-month gold futures settling up 0.3% to $2,626.50 an ounce and SPDR Gold shares up 0.3% looking for a new record close as well.

The global volatility along with the Federal Reserve's shift in its inflation-fighting campaign has bolstered gold, and there may be more room to travel up. "With geopolitical tensions worsening and the official monetary authorities getting towards full swing over the rate cycle the tailwinds for gold continue to exceed the headwinds and there is still plenty of upside scope," Rhona O'Connell of StoneX says in a note.

Source: Marketwatch

Related News

GOLD

Fed Rate Cut Bets Drive Gold to All-Time High

Gold prices extended gains to hit a record high on Friday on expectations of interest rate cuts by the Federal Reserve, while...

13 September 2024 21:27
GOLD

Gold at Over One-Week Low on Firm Dollar, US Payrolls Data A...

Gold prices eased to their lowest in more than a week on Tuesday, pressured by a firm dollar, while investors awaited U.S. no...

4 September 2024 01:51
GOLD

Gold Breaks $2,600 Barrier as Fed Cut Bets Prolong Historic ...

Gold soared above the $2,600 level on Friday for the first time, extending a rally boosted by bets for further U.S. interest ...

21 September 2024 01:52
GOLD

Gold Declines as US Jobs Data Fuels Debate on Fed Rate Cut S...

Gold fell after a mixed jobs report added to the ongoing debate over how deep the Federal Reserve is going to cut interest ra...

6 September 2024 21:34
BIAS23.com NM23 Ai